BTC is meeting strong resistance at the 200 SMA on the hourly chart. This rally appears to be a bull trap unless it can break that resistance with decent volume. If not, looks like the 50 and 200 SMA on the 4H chart are about to do a bearish crossover. I still think the bear can take over here...
Note
Bearish death cross has occurred on the 4H chart, 50MA crossing below 200MA...MACD indicating path of least resistance is downward in the short to medium term.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.