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$BTC Update ⚠️
Price action is closing below the 1 hour 200 MA. As well we can also see that the yellow 200MA is starting to curl over again.
This signals weakness in the bulls.
We must keep in mind that there is that 4 hour money printer formation. It could pull price action back to the upside to close the gap between price and the 4 hour 200MA.
However, while price action is below the 1 hour 200 MA. We must assume that it is bearish. There's also a bearish retest of the larger blue rising wedge.
The next downside targets are $60,198 and $59K.
If $59K breaks we could drop all the way to $49,500.
NFA, DYOR ⚠️
#Crypto #Trading #BTC