Hi dear friends and especially my patrons, in reference to the previous idea:
The price action has successfully broken out the resistance as predicted, but there is a hidden bearish divergence on the 4-hour chart, as the price action of Bitcoin is making lower highs and the RSI oscillator is forming higher highs. Therefore we can expect a pullback to re-test the previous resistance of wedge as support and if the re-test will be successful then after the confirmation the next move will be from $50K to 55K.
The price action has successfully broken out the resistance as predicted, but there is a hidden bearish divergence on the 4-hour chart, as the price action of Bitcoin is making lower highs and the RSI oscillator is forming higher highs. Therefore we can expect a pullback to re-test the previous resistance of wedge as support and if the re-test will be successful then after the confirmation the next move will be from $50K to 55K.
