Hello friends once again here.
let's go to the bitcoin analysis.
Bitcoin showed some pretty good games yesterday but in overall action we are still on a downtrend, unfortunately, bad news 😔
Yes, it bounced off this demand line on this channel but that is inside, it is probably developing because, as we see here on the daily chart, the candle has dropped below this rising wedge here in this flag pattern, but it's still more or less close to the SMA 20 (yellow color).
At MACD we see that it wants to start curving down, once it crosses this red MACD line then we will know that could be a confirmation of lower prices, this is what we have on a daily chart.
On the 4-hour chart the price action fell out of the channel and outperformed the SMA 20 (yellow color), it could fall to the SMA100 (red color) and use it as support.
Through the RSI, it is showing bearish divergence, probably looking for its next resistance level as low as $ 6000 and then $5700, something to improve the fundamentals of accumulation.
The next level of support can be reached, but hopefully not break it and go lower.
That's all for today, thank you, greetings to all 🤗.