On the daily timeframe something very interesting is happening. A convergence of price around the blue KEY S/R is very interesting when you factor in what the moving averages are doing around this level also.
1D 200 EMA is completely flat having lost all of its momentum with the months of chop and then the sell-off into current levels. For a bullrun to be credible you want to see price above this level and a steady/steep slope up. Due to the lack of direction of this moving average price is able to climb above and drop below very easily and therefor it is neither support nor resistance until there is a trend.
1D 25 EMA is a different story, now that BTC has put in a local top and trending down, the 25 EMA is resistance but has been flipped in the last few days with price bouncing off the level 4 days in a row. This is good news for the bulls but the longer we linger here there is more chance dropping back under it.
Diagonal resistance as simple as it is has 4 points of contact and will be a big point of resistance and one many traders will be keeping an eye on.
On the lower timeframes we're seeing a bullish channel, a loss of this channel would be a huge red flag and a catalyst for a risk off event IMO, continuing the downtrend.
1D 200 EMA is completely flat having lost all of its momentum with the months of chop and then the sell-off into current levels. For a bullrun to be credible you want to see price above this level and a steady/steep slope up. Due to the lack of direction of this moving average price is able to climb above and drop below very easily and therefor it is neither support nor resistance until there is a trend.
1D 25 EMA is a different story, now that BTC has put in a local top and trending down, the 25 EMA is resistance but has been flipped in the last few days with price bouncing off the level 4 days in a row. This is good news for the bulls but the longer we linger here there is more chance dropping back under it.
Diagonal resistance as simple as it is has 4 points of contact and will be a big point of resistance and one many traders will be keeping an eye on.
On the lower timeframes we're seeing a bullish channel, a loss of this channel would be a huge red flag and a catalyst for a risk off event IMO, continuing the downtrend.
Note
The bears are taking back control of the low time frame. Having dropped out of the bullish channel and rejected the 4H 200 EMA, now sat just below the 1D 200 EMA as well. This is where the bulls needed to step up and they have not done that.I am now super cautious of any longs until this situation looks better, bears are in control and another leg down looks on the cards.
Note
Another note is that the pre-market is down, whenever tariffs are mentioned we get this shaky price action that follows. Note
Rejection off the underside of the KEY S/R, confirmed as resistance.4H 200 EMA is just above at $86,200 and again posses as major resistance. BTC will need to fight hard to get back above these levels as the trend is very much down at the moment.
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KEY S/R flipped for now with the 4H 200 EMA being contested, until this Tariff announcement is over I'm not seeing this as confirmed, we'll see how the dust settles after. Note
Harsh rejection off the diagonal trend resistance level. Now below the 4H 200 EMA with a dreadful pre-market looming. Could be a tricky end to the week.
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And tricky end to the week it was... We are getting very close to fully closing out the 
73K inefficiency and for me where I would like to see strength return to the market. Both SPX & DJI are coming into areas of support at the same time too. I am not blind bidding this as it is still clearly risky but I this does look a lot like a capitulation candle into support. We shall see what happens...
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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.