Bitcoin: 8-Hour Fakeout Pattern Repeats
Trader Tardigrade notes Bitcoin repeating an 8-hour fakeout where price broke below the range twice before returning, mirroring the prior consolidation that preceded a push higher.
SourceAnalysis
Bitcoin repeated its 8-hour fakeout pattern as price broke below the consolidation range twice before snapping back inside, according to @TATrader_Alan. The prior instance saw identical downside rejection followed by a sustained advance.
Price at $83270.26 sits just beneath the EMA50 at $83465.2 while holding above the EMA200 at $82317.33. The MACD golden cross at -21.7 supports continuation, yet neutral RSI at 50.09 and position inside the Bollinger Bands between $82232.21 and $84235.75 point to a measured test of upper-band resistance before any extension higher.
Trader Tardigrade
@TATrader_AlanTechnical chartist and crypto content creator focused on Bitcoin and altcoin pattern analysis.