Bitcoin Pennant/flag Formation
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BTC is on the edge of being overbought on the daily timeframe. Either itll retest 50 ma ( plusminus 8000$) while moving in the flag and move up. Breaking the 50 below is confirmed sell off and the bulls might lose the momentum.
Or itll move up higher and daily will be very overbought to the previous resistance 11k-12k and a drop back to 200 ma. This is supported by the weekly RSI that isnt overbought see below. Which might indicate that BTC will retest the 11k-12k zone.
Or itll move up higher and daily will be very overbought to the previous resistance 11k-12k and a drop back to 200 ma. This is supported by the weekly RSI that isnt overbought see below. Which might indicate that BTC will retest the 11k-12k zone.
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