BTC Bearish Setup

7 thg 3, 2022

As the 4hr EMA ribbon flips bearish, Bitcoin is facing consolidation similar to the last time it flipped. If this bearish scenario repeats, we could see a 14% dump to the $33,000 level. Despite this bearish pattern, some signs of hope can be seen for the bulls. https://www.tradingview.com/x/9w4cvQlt/ Right before the last pump, the price fell below the recent point of control on the VPVR, and experienced similar consolidation. https://www.tradingview.com/x/Qf02t5L6/ The 14 RSI crossing the 20 MA on the 4hr is a good sign, but there needs to be more volume