BTC has confirmed the double top pattern since I last posted about it 2 days ago. The ascending triangle structure and H1 200EMA failed to hold.
After a nearly 7% drawdown price rebounded off the bullish order block shown before regaining the 200EMA and the weekly 0.75 range quarter.
With BTC struggling to top that all important local higher I could see a rangebound environment taking us into next week with no real momentum for either the bulls, nor the bears. For now playing the range would be the highest probability until proven otherwise.
After a nearly 7% drawdown price rebounded off the bullish order block shown before regaining the 200EMA and the weekly 0.75 range quarter.
With BTC struggling to top that all important local higher I could see a rangebound environment taking us into next week with no real momentum for either the bulls, nor the bears. For now playing the range would be the highest probability until proven otherwise.
