BTC has rallied up a tad right into a 50% level to find some selling interest. Happy Fibonacci Friday! The 61.8% level and the red intersection is a strong spot and should be tough to breach.
At the same time price has moved up in the last 48 hours, momentum for trend has weakened. The black line (trend strength indication) plotted under the price chart has dropped the whole time price has tried to rally. I look at this picture as a spot to watch for selling interest to come back into the market to resume the already primary that has been in place for a long while.
Price needs to break the red to the upside, with backed internal trend momentum, to be the first red flag this market has turned or reversed the primary trend.
With all the hype in cryptos the last day or two, the charts show what the hype means.. so far nothing!
Any questions let me know!