Bearish Butterfly BTC/USD Weekly

A textbook bearish butterfly is forming on the BTC/USD weekly - pullback is expected. The 20 SMA (orange) and 21 EMA (purple) are rising towards the 1.618 fib level and historically act as support for a BTC bull market. I suspect there will be some price action towards this point in the coming months. BTC will need to find support there for the current bull market to continue.