200 EMA is holding well here for now but in my opinion this looks more like a retest of the 50 EMA before another move down to break the 200 EMA support.

So that’s why I’m leaning toward this scenario. We have seen similar price action quite a few times before. A bullish reversal however would be if BTC reclaims the 50 EMA and moves above it.
Just my two cents. Let's see how the price reacts here.

What do you think? Leave a comment below and stay tuned for more updates.