$BTC

$BTC DAILY UPDATE

Price has broken below the parallel channel and the 50 EMA on the 1H timeframe, signaling a possible reversal. We also saw a false breakout at the top of the channel earlier, showing strong selling pressure.

Meanwhile, US stocks opened massively green today, and we even had positive China - US trade deal news, yet Bitcoin dumped. This shows Bitcoin is no longer reacting to good news, a sign of exhaustion.

Looking ahead, I expect a pullback toward the 200 EMA on the 1H chart, now is a good area to consider trimming profits on Bitcoin