BTC/USD - Ranging before $50k!

BTC has been ranging between these two fib levels for the past four days and we formed a local resistance represented by the dotted line.

However that will not last long as the real test is at 50k. For now the indicators look a bit flat on 4h and we don't seem to have the momentum yet to push higher, we need to pass this local resistance before we have confidence to go higher.

On daily, the momentum is fading slightly as indicated by the MACD histogram (lower high), however, this may be just temporary as most of the attention lately has gone to altcoins and ETH that made significant gains these past days.

Once BTC starts moving, money will flow back to it. Lets see the price action over the weekend, we may get some surprises... Apple has just announced it will allow crypto on their apple pay app... slowly getting there. Once Apple announces they are buying BTC... we're in business... 🚀

Like and follow of you liked this idea. Also join my crypto community to stay in touch!