BTC continues the pattern where bulls have no momentum for a follow through after a news bump.
We have been slowly consolidating and fading for over 18 hours as the bulls try and establish a 4 hour higher low.
Bulls need to break the hourly lower high pattern to shift momentum back in their favor.
Daily EMA 12 will continue to be key resistance to watch on any follow through.
At this point the daily chart can absolutely be another bear flag leading to lower lows.
No trade zone if not already currently in a position.
We have been slowly consolidating and fading for over 18 hours as the bulls try and establish a 4 hour higher low.
Bulls need to break the hourly lower high pattern to shift momentum back in their favor.
Daily EMA 12 will continue to be key resistance to watch on any follow through.
At this point the daily chart can absolutely be another bear flag leading to lower lows.
No trade zone if not already currently in a position.
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