Things looking dire for BTC
Like I posted yesterday, failing thrice to break ema9 on the 4h and topping at 10k of all values, along with decreasing volume, seemed to meant doom. And Doom it was.
On the 30m, steep rises continue to prove fatal when they break their steep trendlines. This time was no exception.
Looks to be clinging to that last support, from there, I hope I am wrong but I am looking at new lows.
On the 4h, things also look dire. Bounced perfectly on the 1.272 fibo from this whole movement, after failing to break the support turned resistance represented by the green dashed line.
If we don't break the ema9 convincingly and keep up with volume, this looks awful. Only positive aspect, on these timeframes we are fast reaching oversold territory.
On the 30m, steep rises continue to prove fatal when they break their steep trendlines. This time was no exception.
On the 4h, things also look dire. Bounced perfectly on the 1.272 fibo from this whole movement, after failing to break the support turned resistance represented by the green dashed line.
If we don't break the ema9 convincingly and keep up with volume, this looks awful. Only positive aspect, on these timeframes we are fast reaching oversold territory.
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