Good morning!
Almost 3-4 days we have seen BTC sideways movements, little exceptions here and there! But if we move sideways it doesn't mean that we don't break or don't see some price action patterns.
Yesterday we break one significant support - curve support, this is for us a little bearish confirmation. 4 hours ago we got also another bearish confirmation when 1-hour & 4-hour candle close was below the magic number $6666 and break through the EMA's!
So at the moment, we have three bearish confirmations:
1. Break below curve support
2. Break below EMA's
3. Break below a decent support $6666
To be more confident about BTC bearishness then You can see the red area, if we close from there then we have a trendline break (blue),
back to below the red trendline since 17.12.2017 and we have two bearish confirmations more and 3+2= FIVE BEARISH PRICE ACTION criteria's!
After those breaks, we have only left a round number support which is $6500 and I think it doesn't hold us!
To be bullish:
1. We have to break EMA's again
2. We have to break three strong trendlines
3. We have to break strong support area
4. Long story short we have to break $6800