Warning: Bitcoin Needs a Dip before it's Next ATH, 4h Overview
Under the 4-hour time frame, we can see that BTC is not yet ready to take a lift-off. We see the price rejection happened over the trend line resistance with solid selling pressure indicating that the price is under control.
Here we expect to see another downside momentum to create a bearish impulse in the channel. This picked-up channel is playing a significant role in both weekly and monthly timeframes.
There is no evidence yet for a rally above the $32k on the BTC chart which is likely to be the attempt of a new ATH. The perspective here is completely under a lower timeframe which is aligning with the bearish idea we hold.
Here we expect to see another downside momentum to create a bearish impulse in the channel. This picked-up channel is playing a significant role in both weekly and monthly timeframes.
There is no evidence yet for a rally above the $32k on the BTC chart which is likely to be the attempt of a new ATH. The perspective here is completely under a lower timeframe which is aligning with the bearish idea we hold.