BTCUSD broke the neckline of the head and shoulders pattern we've been discussing this week and found some sort of support on the 50 EMA. Currently we are bouncing back to see if we can rally above the trendline again. RSI has fallen below 50 and MACD continues on a downward trajectory wanting to cross the 0 level. Although the chart looks bearish at the moment we have to wait to ensure this is not a bear trap.
More analysis on BTC, ETH and stocks tonight.
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