btc goes against the herd pumps during initial deathcross.

Btc has done a fantastic job faking out the herd after dipping back below the double top neckline then shooting all the way back up to test the 4hr 50ma which is currently maintaining resistance. If it can find a way to rise above both the 4hr 50ma and 200ma and flip them to solidified support then odds are likely this deathcross will end up being a fakeout. However, having jus deathcrossed could give both moving averages extra resistance momentum in which case we could still go down from here and reach he 8.5 target. We must also remember the breakout target of h falling wedge is around 11.1k so we could also still continue up to 11.1-11.2k before finally plunging back below the 4hr 50 and 200mas as well, I'd say at this point anything is possible and until we clear about 11.5k and flip it o support a trip back down to 8.5k07.2k-or even 6k if a double op is triggered is still possible. Best to pay close attention to how price action reacts to testing these mas and if it goes above that how it reacts to the 11.1-11.2k level.

Comment:

another thing to make note of here on the 4hr is priceaction at this level if it were to turn back towards the downside would be creating yet another lower high. It would also have a chance however to form an inverted head and shoulders as long as it didn't follow that lower high up with a lwoer low.