Evident 48K is very strong resistance where we have whales colluding shorting the asset Not one 4 hour candle has close above this level We have seen flat top triangles forming all over the market - consolidate under resistance then push through Possibility of this here also 4HR bearish divergence causing some current sell momentum There was a month gap causing bearish divergence on the 1D chart, we got a small sell off then made more bearish divergence with a leg up, now a sell off partly due to the second bearish divs created Supports at $45,500 and $44,300 and the ascending trend line. Let's see how it reacts to these levels! Hoping well as currently it is hurting alt profits which is frustrating but part of crypto...
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Punched through now, see if 48K holds Expecting big profit taking at 50K due to psychological level
in this time bitcoin in wave C "corrective wave" falling down to 37000
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@mmd_slash, I would also say technically we are looking weaker as price due to the flag should be higher, and we havent closed above 48K, but I think the institutional buying and all the fundamental news increasing retail buying is currently reducing the possibility of that kinda move! Not ruling it out though. Looking at the MCAP chart though it has just moved into the next range up which is pretty bullish if holds. Lets see....