Bearish divergence on the Daily, 4hr, hourly and 15min charts... Which can mean nothing but short squeezes but Price Action feels weak with BTC back making new highs but the push not feeling as strong this time. I think longs are waiting for the big push past $50k to $60-70k but if price can even push through $50.. I think we may see a sharp fakeout like I mentioned a few ideas ago. Weve went up so far so fast I dont see how more vertical upside doesnt result in a severe semi crash bc it always does so BTC carefully on watch. $34k a great area of support atm.
To clarify Im holding a small long here but not confidently, Ill add on break of $50k but will be at the trigger ready to get out on signs of a fakeout.
Lose $45k again and I dont see how it doesnt drop to at least $38k.
To clarify Im holding a small long here but not confidently, Ill add on break of $50k but will be at the trigger ready to get out on signs of a fakeout.
Lose $45k again and I dont see how it doesnt drop to at least $38k.
Comment:
There is some confluence around $42k and a bounce there would make sense before falling further so I will look to buy that dip if it happens but watching carefully for any breakdown below $42k.