BTC seems to be trading in a rising wedge which in theory is a bearish signal and price usually breaks out to the downside. Couple this with the bearish divergence we can see on the 1hr TF we could say that BTC is looking more bearish than bullish, however BTC is trading very close to 50 000 dollars and did touch it earlier today. Seeing that BTC didn't get a big rejection from this area is more of a bullish sign as people are obviously not setting many sell orders at this level.
We can probably expect BTC to break out to the upside and the best way to trade this would be to set a momentum long order above the previous high it had set earlier.
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Disclaimer: The content covered in this channel is NOT to be considered as investment or trading advice.
I am NOT a financial adviser. These are only my own speculative opinions, ideas, theories, hypotheses and trade setup ideas on the market. The content posted in this channel is purely for entertainment purposes only and the information is NOT to be used or replicated by others.
We can probably expect BTC to break out to the upside and the best way to trade this would be to set a momentum long order above the previous high it had set earlier.
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Disclaimer: The content covered in this channel is NOT to be considered as investment or trading advice.
I am NOT a financial adviser. These are only my own speculative opinions, ideas, theories, hypotheses and trade setup ideas on the market. The content posted in this channel is purely for entertainment purposes only and the information is NOT to be used or replicated by others.