Bitcoin
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Bitcoin 12 hour consolidation

Bitcoin on the 12 hour time frame is consolidating. A 12 hour close below 7850 and it will be a confirmed support breakdown, leading to the next leg down to 6800-7000 range.

Price action has rejected the yellow 21 EMA and red 10 SMA and using both as resistance. The 12 hour timeframe is in a death cross formation and has confirmed the death cross with the strong rejection off the 55 EMA.

12 hour stochastic has had a bullish cross in the critical zone, waiting to confirm a cross above the critical zone for a potential short term bounce play.

12 hour RSI held beneath trend line resistance, below RSI EMA and in bear control zone. No divergence present
Bitcoin (Cryptocurrency)BTCBTCUSDBTCUSDTChart PatternsCryptocurrencySupport and ResistanceTrend AnalysisXBTUSD

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