Some clear intel. from the 4-day
The 4-day chart is actually providing some great intel. right now. We can see that BTC has bounced very nicely off the 21 EMA (blue line) every single time it's hit it and the price is now hitting it yet again and for the sixth time in a month. If the 21 EMA can once again support the price here, we will very likely continue to consolidate in this large pennant and probably head back up to the 9500 area (top of triangle), and actually, the 4-day chart is showing we could consolidate for another month at this level before Bitcoin finally chooses a direction. Alternatively, if the current 4-day candle closed under the 21 EMA, I would expect BTC to dump hard. So - if this breakout (be it a pump or a dump) doesn't happen by Saturday, I would expect BTC to head back up to 9500 and continue painting this larger symmetrical triangle consolidation pattern with the mid-to-late August apex/breakout point.
Cheers and happy trading. Peace. Abundance. Prosperity.
Cheers and happy trading. Peace. Abundance. Prosperity.
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