#summerchop
summerchop
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$BTC FAILED TO HOLD THE RANGE HIGH — BEARISH REVERSAL IN PLAY 😵
Bitcoin just got rejected at the 4H 200EMA for the second time and is now slipping back toward the 4H 200MA. This is the same level that acted as resistance last week.
We're seeing lower highs forming with each test, and volume is dropping off — classic summer chop. Range traders are the only ones eating right now. The question is: does the 200MA hold or do we sweep lower before the next move? Are you leaning short or waiting for a clean break?
Not financial advice. Always manage your risk.
#BTC #Bearish #RangeRejection #SummerChop #Crypto
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Bitcoin just got rejected at the 4H 200EMA for the second time and is now slipping back toward the 4H 200MA. This is the same level that acted as resistance last week.
We're seeing lower highs forming with each test, and volume is dropping off — classic summer chop. Range traders are the only ones eating right now. The question is: does the 200MA hold or do we sweep lower before the next move? Are you leaning short or waiting for a clean break?
Not financial advice. Always manage your risk.
#BTC #Bearish #RangeRejection #SummerChop #Crypto
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