💰 There is a negative signal in #BTC
The coming days will be crucial for Bitcoin and the market in general. In the daily timeframe of the first cryptocurrency, extremely important events are occurring.
During the drop this winter, the price fell below the 200-day EMA 📉. The breakdown of this level gives a negative signal about future prospects, so now the price is trying to get back above.
The last attempt was unsuccessful. In one candle, there was a bullish breakout, and in the next candle, a pullback occurred. A “false breakout” 📊 was formed.
This pattern could hinder the price movement down to the ~$91,500 area. It is quite likely there will be another pullback to the lower boundary of the consolidation at ~$79,000. However, in the medium term, the price continues to try to move in a sideways range 🪙
