Hi guys,
A quick one here. This is BTC, 4-hour chart. Looks like will be hitting the upper point of the cycle here, with $49,000 as the last possible peak before a down break.
There is a rising wedge formation on the lower timeframe, which combined with the bearish divergence and the horizontal resistance around $48,000 could drive the price back down to at least $43,000. Be careful out there.
Regards
A quick one here. This is BTC, 4-hour chart. Looks like will be hitting the upper point of the cycle here, with $49,000 as the last possible peak before a down break.
There is a rising wedge formation on the lower timeframe, which combined with the bearish divergence and the horizontal resistance around $48,000 could drive the price back down to at least $43,000. Be careful out there.
Regards