So Bitcoin is consolidating from 101K to 109K, from an uptrend which is probably but not certainly a continuation pattern. BTC is still above the 10 EMA means bullish short-term, confluent with market structure, and above 200 EMA long term bullish. BTC might cycle back up in the flag pattern or break below the 10 EMA, which could possibly (not certainly) send it probably to the 50 EMA in purple and the trendline and a Demand zone. The bulls would love for BTC to close above the flag pattern and resistance and make HH and HL from there; and the bears would love to see rejection and a return back to the Demand levels.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.