BTC 8h bear setup
Bitcoin is consolidating around 48K, but the picture looks more and more bearish on the bigger time frames. Currently I marked it as neutral, because I still don't see explicit indication to open a short position. The EMA golden cross on 15th didn't make any difference, because it always comes with a delay.
The major 45K supports is still holding well the price, but in the same time we start to see a weakness on the 6 and 8 h time frame.
The possibility for a bearish move is increasing every day, because we still lack the C wave of this correction.
The Gann chart shows, that 1:1 diagonal is acting as a strong resistance for the price.
I expect a big move between 21st-23d of September, but 17th is also and energy point day for bitcoin.
The major 45K supports is still holding well the price, but in the same time we start to see a weakness on the 6 and 8 h time frame.
The possibility for a bearish move is increasing every day, because we still lack the C wave of this correction.
The Gann chart shows, that 1:1 diagonal is acting as a strong resistance for the price.
I expect a big move between 21st-23d of September, but 17th is also and energy point day for bitcoin.
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