$BTC — From the Crossroads, Leaning More Toward the Short SideBitcoin / TetherUSBINANCE:BTCUSDTCOINUGGETBTC — From the Crossroads, Leaning More Toward the Short Side Date: 2026/04/12 Symbol: BTC Interval: 4H Bias: Bearish Previous idea: https://www.tradingview.com/u/COINUGGET/#published-scripts Here's my BTC chart on the 4H timeframe. My custom indicator is currently pending approval, so I'm using a similar EMA + BB setup to share this idea in the meantime. 1. A rising wedge pattern is forming on the 4H — marked with white lines. 2. I expected no significant drop over the weekend, but after the White House news, we saw a sharp selloff even on a weekend. 3. Same as before, this remains the most likely scenario — zooming out, the current price level closely mirrors the left shoulder zone around $74K. This adds to the possibility that we're forming the right shoulder of a larger head and shoulders — red arcs. **Additional bearish confluences from the weekly chart:** 1. Price is currently sitting at the 23.6% Fibonacci retracement level of the entire decline. 2. BTC has been consolidating around the EMA 200 for an extended period — chopping above and below it. 3. If $76K holds as resistance, there's a possibility of an ABCDE triangle consolidation followed by a breakdown. 4. On the weekly chart, the bullish EMA alignment has already broken down — suggesting another leg down is possible. What's your take on this setup?