btc closes below 50MA on 4hr but dives down to catch next candle
I'm a switching from long to neutral on this one....not short yet because even though we dipped below the 50ma , which kept us from getting 5 consecutive candles closing above the 4hr buy/sell line, the 50 ma dipped down to catch the next candle and the current candle is still above it as I type this so it is at least currently maintaining support, we got a nice bull boost on the new candle too...most likely because megawhale aabtc just woke up from his nap :P but we can now see that we are forming a descending triangle in an uptrend which has potential to have a bullish breakout since descending triangles are typically trend continuations . I have highlighted the triangle here in purple...for now I am neutral but will likely flip back to long should this continuation pattern do what it typically would in an uptrend. Keep an eye on the apex and look for a boost in bullish volume on this one...probability favors a break upward. . .. but be prepared for a break to the downside as well.
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