Bitcoin is forming a bear flag with falling off volume on the 12 hour timeframe and is held up by all major moving averages. A confirmed high volume break on this bear flag will most likely initiate the next leg down
First resistance around 8160-8200, between the 10 SMA and 21 EMA.
12 hour stochastics are extended to the downside and are looking like they want to cross over soon.
12 hour RSI is below the EMA and in bear control zone with no divergence present
First resistance around 8160-8200, between the 10 SMA and 21 EMA.
12 hour stochastics are extended to the downside and are looking like they want to cross over soon.
12 hour RSI is below the EMA and in bear control zone with no divergence present