BTC is still inside this slightly bullish channel and momentarily bounced perfectly on the wedge’s BOTTOM leading us to face the resistance of the 42 / 42.5k point tested several times.
On the weekly I would like to see what I drew using the FIBONACCI tool (what I would like to see), remaining on a purely technical analysis now on the Daily we have created this bear flag inside (blue).
We now have period 30 as resistance at around 42.5k and period 10 as first weak support at 41.2k.
We have created a bear flag Daily that if it were to break it with a high volume daily candle that breaks 42.5k it would give me the ok to open a short long one, beware of false channel breaks !!
If, on the other hand, we see a bearish rebound, I think we will easily return to the 40 / 40 .5 zone on the first support and see.
It is important to note that at 4h we are starting to reverse the trend slightly