Bitcoin Daily Outlook

20MA and 50MA holding the line at the moment of this post after rejected at 44.5k hz resistance and 100MA. Fork breakout failed and hz support at 41.5 (4H TF) has been lost, but still hope for daily to hold at GP and bounce back.

Lose this level (above 40.5) and we are looking to test the bottom of what could be called a ascending triangle at around 38k. There could most definitely be a daily wick below so look for daily closes on this pattern structure.

Currently sitting at equilibrium of trading range so be cautious if trading here.

Kommentera:

Weekly close above 43k would be bullish. $btc has had 4 wicks above with no luck. Still holding higher low and in upward channel. Sitting right above 100EMA.#Bitcoin

Kommentera:

Expecting some support to come here on LTF. nPOC on H4 is at 38.3 though and still clear downtrend on RSI and OBV.
Could wait for break up on either indicator, or bullish div to play out. OR could DCA into lower levels near what I am looking at Ascending Triangle. $btc #Bitcoin