Yesterday, the Symmetrical Triangle was broken to the downside and we are currently rather in a downtrend - but... on the 4 hour timeframe we can see that Bitcoin is forming a falling wedge and thus we see rather bullish signs.
Therefore, I see it as realistic that Bitcoin has quite a chance to head towards 52,000 in the next few hours / days once we have broken out of the falling wedge to the upside, thus creating a potential long position. It could become dangerous when we have reached this price target and some investors and hedge funds start to short again. As in the last run-up, we could see very nicely that the sell pressure was very high.
Therefore, I see it as realistic that Bitcoin has quite a chance to head towards 52,000 in the next few hours / days once we have broken out of the falling wedge to the upside, thus creating a potential long position. It could become dangerous when we have reached this price target and some investors and hedge funds start to short again. As in the last run-up, we could see very nicely that the sell pressure was very high.