BITCOIN A short term outlook

I rarely look at short term set-ups but I cannot overlook this pattern.

The recent rebound on the 1D Support Zone (6,515 - 6,420) has so far found Resistance and rejected on the 4H MA200 (orange line). That made a new Lower High on a pattern that appears to be a Descending Triangle.

Typically I expect a continuation of the downward sequence towards the 1D Support again. The RSI also hit the 1 month Sell Zone. A break above yesterday's Lower High (which would be a Higher High) practically invalidates this pattern so do not take any chances.



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