BTC price action keeps melting until the 200EMA previous support & resistance line. Here's the moment where you stay objective and keep trading your plan. When price action moves below the 200EMA I start looking for bearish scenarios. As much as I love crypto and BTC, charts don't lie. On high watch for direction confirmation. Also good opportunity to see what others cryptos & tokens are pulling back but without changing their structure. Let me know if you want me to take a look over some of them, safe trading everyone!
Note
BTCUSD broke below the 200MA finding support at previous levels of structure. Price action seems to be consolidating in this bear flag with the rejection of the 200MA (Orange Line). Short-term more choppy compression. A tough scenario for Bitcoin at the moment folks.
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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.