Hope we have been following BlockHead's advice on these updates! As mentioned several times over the past week expect a rejection/bulltrap at around the $50.7k region. There was a pretty rapid rising wedge that formed to confirm this also yesterday - yesterdays btc update gave an hour or so's warning here.
Whats next, well I don't think it is going to be remotely bad tbh - we have just about filled the weekly pivot, heading to support with a bullish divergence and quite alot of reversal indicators are pinging on the Alpha suite - so I would be semi-confident to say there will be a bounce at the $46.6k to $45.8k region to start another press towards $50k
My play is to wait to the $46.6k support and if there is some strength shown then to risk it and long to $50k - I don't think shorting is a good idea rn.
- BlockHead
