#Bitcoin being rejected in red “sell zone”, almost exactly at upper Fibonacci level and 200 day EMA , with a potential MACD bearish cross formation in the 1D chart. In case of a sudden drop, watch for daily closes above or below 40 .8K.

Daily volume has been going down also.

On a closer look to the 4H chart, the line that tells you if the short term is going to be bullish or bearish is around 42.2K. So,

– 4H closes above 42.2K are bullish
– 4H closes below 42.K are bearish
– 1D closes above 40 .8K are bullish
– 1D closes below 40 .8K are bearish

On a more macro scale:

– 21W SMA is around 43.6K
– 200 day EMA is around 44.6K
– 20W EMA is around 46.2K

All those are lines to conquer. Until we see daily candles closing above them, we’re still in a bearish trend .