$BTC Price Action Struggling To Break 1Hr 200MA


Bullish Scenario 🐮
Now we are looking at a bullish pennant handle. Price action has to breakout above the yellow 1hr 200MA .
Seeing price action flag out over the yellow 200MA is usually a bullish indication.
Here we are flagging out below the yellow 200MA. Not a bullish as when above.
Near Term Bearish Senario 🧸
M pattern or Adam & Eve Double Top is likely if the yellow 200MA can't be broken to the upside.
My prediction 🤔
As stated yesterday wouldn't surprise me to see a drop for a double bottom near $68,317.
Then a potential bullish reversal to breakout above the 1hr 200MA.
NFA, DYOR ⚠️
#Crypto #Trading #BTC
BTC-1.79%
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin