Bullish view:
Past few weeks BTC has been respecting the 20EMA level on the 4H chart.
price tested the high 46,000 area, where we can see a bounce / rejection below the EMA level.
Previous retest saw about a 10% retracement.
If the same occurrence happens it will put us well over current ATH resistance, and potentially above 50,000.
Bearish View:
BTC has been going sideways for a bit while alts have been moving.
Volume looks pretty low.
Rising wedge in formation.
Break in wedge may lead us to test the 45,000 support cluster zone.
Past few weeks BTC has been respecting the 20EMA level on the 4H chart.
price tested the high 46,000 area, where we can see a bounce / rejection below the EMA level.
Previous retest saw about a 10% retracement.
If the same occurrence happens it will put us well over current ATH resistance, and potentially above 50,000.
Bearish View:
BTC has been going sideways for a bit while alts have been moving.
Volume looks pretty low.
Rising wedge in formation.
Break in wedge may lead us to test the 45,000 support cluster zone.
