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The chart says it all.
First real test of Hourly 200 EMA resistance in downtrend
My gut tells me...maybe
This is a pattern that I notices. Let's see how it plays out.
Don't listen to me, this is not advice, you will likely get rekt
This is a test. Don't use this as advice,
I drew a map to the mid 90s0's
We are at a critical juncture
We will see. We are up against tough resistance
Here we have price attracted to the diagonal value area. where it wants to go and can act as resistance, and prior horizontal resistance crossing that same line. Tough to break.
This is for testing purposes only, don't listen to me.
Price has shifted to lower value area and is consolidating.
Strong support/resistance potential.
A regular dumping pattern
BTCUSD Weekly consolidation could continue if last weeks lower high is confirmed
If the past plays out again we could see some big profits.
I am keeping my eyes on this rough zone. If it break bullish out of this pennant and then breaks the cup/handle type formation with good volume we could have lots of upside.
I am uncertain where it will go, but to me it looks like up unless it breaks support. We will see