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FutureBlockchain
Feb 12, 2021 10:20 PM

BTC - time for a break ? Short

Bitcoin / U.S. dollarBitstamp

Description

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
Comments
baris3
Correct, RSI and MACD divergence bearish, and it is finishing rising wedge which is also bearish. People will sell.
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