2026-01-19 15:41:46

Bitcoin's daily chart is starting to display some interesting technical signals. The price has pulled back to a critical support zone where three major moving averages converge—the 20-period EMA, 50-period EMA, and 20-period SMA. After touching this confluence level, BTC bounced, which could suggest the formation of a bullish reversal hammer candle on the 1D timeframe. Keep in mind the candle won't close for another 12 hours, so confirmation is pending. On the broader structure front, things remain solid. The daily Stochastic RSI is cooling off, which typically indicates weakening momentum before a potential move. Worth keeping an eye on this setup as it develops.

BTC-1,9%

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LuckyBlindCat

· 18h ago

The support level is where these moving averages converge... It's quite interesting, but let's wait and see how the closing line turns out.

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TokenomicsTrapper

· 18h ago

nah this "bullish reversal hammer" copium hits different when you realize vesting unlocks are scheduled for next week... actually if you read the contract, classic exit pump pattern forming rn tbh

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SoliditySurvivor

· 18h ago

It's the same old trick of this MA convergence again. Every time, they talk about a reversal hammer. So, what happens next? Just wait and see.

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UncommonNPC

· 18h ago

It's time to look at the charts and find hope again. What does the convergence of the three moving averages indicate? It bounced once and then said a reversal is coming—this routine is well-practiced.

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BlockchainFoodie

· 18h ago

ngl this triple MA convergence thing lowkey hits different... it's like watching a perfect mise en place come together before the chef executes, you know? 12 hours till confirmation though, can't be rushing this—patience is literally the secret ingredient here, fr fr

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MidnightTrader

· 18h ago

The area where the three moving averages converge has bounced this time, and the hammer candlestick pattern is quite obvious... However, there's no 12-hour close yet, so don't rush to get in.

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