BTC on the way to 7.5K - Last chance to turn bullish

This chart reflects the current situation. There is a tiny chance for the bulls to alter course. But overall, everything looks bearish. Just my opinion.

Best regards,

Roman.

Comment:

- bullish arguments
we are in a bull trend beginning april 19, and we are forming a big bull flag or triangle with peaks at around 14k, 13k and 12k
we still have support in the 9.5k-9k region
we see higher lows 9.05k, 9.1k and 9.4k
we could form a rounding bottom 9.6k, 9.05k, 9.1k and 9.4k
we are above EMA50 and EMA100 in the daily


- bearish arguments
we are in a downtrend channel with upper peaks at around 14k, 13k and 12k and lower peaks at 9.6k and 9.05k
we are below EMA50 and EMA100 in the 4 hourly
we are rejected by the EMA ribbon in the daily and 4 hourly
we were rejected by the 61.8 fib since 12k peak
we are currently in a bear flag close above the last resort area

Comment:

Comment:

Current price action is at the 4 hourly EMA50 and EMA100 and later the region around the 38.2 fib (10.7k-11k) which should act as heavy resistance. If we break this, we can reach the upper line of the falling "bull flag" at around 11.4k-11.5k.