Bitcoin / BTCUSD is trading inside a Channel Up since the start of the year and is approaching its top.
The price action is basically similar to the March-April Higher High formation and it is getting close to the April 14th High once it completes the +89.41% rise.
The 1day RSI is also inside a similar Channel Down pattern, which is a bearish divergence leading to the price's eventual peak.
Technically a correction to the 1day MA50 is justified.
Sell and target 41000 (0.236 Fibonacci level).
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The price action is basically similar to the March-April Higher High formation and it is getting close to the April 14th High once it completes the +89.41% rise.
The 1day RSI is also inside a similar Channel Down pattern, which is a bearish divergence leading to the price's eventual peak.
Technically a correction to the 1day MA50 is justified.
Sell and target 41000 (0.236 Fibonacci level).
Follow us, like the idea and leave a comment below!!
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