Both 200MA daily and 50MA are angling down. This cross could have a major impact on Bitcoin. A bearish flag is also playing.
Note
The rising wedge is playing. It is now flirting with 6k. Bulls need to push above 7,600 to be out of danger. With the momentum clearly shifting downward, it is looking really hard at the moment.
Market favors the bear.
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Disclaimer
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.