On the 4H BTCUSD chart a rising wedge is forming. A rising wedge is a bearish pattern. So the probability that a downside momentum is approaching is becoming a more reliable prediction. If this really happens the road to 48000 is a more clear path the BTC price will follow.
A possible breakout to the upside could be a possibility too. However, the probability that this would happen is far more lower compared to the downwards momentum. Also the fact that there is quite some resistance at the breakout-zone, should not be taken lightly. If the breakout will happen at this point, wait for volume to confirm this breakout first.
Be carefull to enter at this point and wait for the breakout of the trendlines before taking entries. The downwards road to 48000 seems the most probable route to me...
A possible breakout to the upside could be a possibility too. However, the probability that this would happen is far more lower compared to the downwards momentum. Also the fact that there is quite some resistance at the breakout-zone, should not be taken lightly. If the breakout will happen at this point, wait for volume to confirm this breakout first.
Be carefull to enter at this point and wait for the breakout of the trendlines before taking entries. The downwards road to 48000 seems the most probable route to me...
Comment:
The rising wedge has broken through the support line. Downside momentum expected to continue ...