Bitcoins continuing to push up towards 50K with another touch of the level last night, however we seem to be really struggling to get up and above the R2 resistance from the pivot points, we are currently a hair above this level but we will definitely have to watch this going into our daily close! If we don't get a close above 50K tonight or even tomorrow my thoughts are that we are going to see a pullback, if we can't breakthrough the bulls will continue to loose momentum and in turn the bears will get a bit and most likely drive the price down, most likely too the 0.3 FIB level or around 42K. Checking out the RSI we are in the overbought area and sort of moving flat not really up or down. I think sooner than later we are going to have too see some drawdown, and this is where im looking at the Stoch RSI we notice we are starting to loose some momentum and our blue is starting to curl downwards towards the orange in what looks like a soon to be bearish cross and a drawdown, this could have the regular RSI come on down with it and most likely price action. I think we are due for a decent sized pullback or cooloff just based on how much we have recently ran up, aswell as major exchanges and whales are looking to liquidate long positions and shake weak hands out of the market. Just my opinion not financial advice!
