BTC produced a clear double top on the 4h chart while trying to break the strong resistance of $46.3k. Its been on a slightly reluctant downtrend since.
A strong support where it may bounce is located at $43.1k, which is also the .618 Fibonacci level.
One the 1D chart, you can see that BTC is still showing a nice bear flag pattern, with healthy pullbacks happening along the way.
I believe BTC will have its $43.1k pullback then proceed upwards once again.
A strong support where it may bounce is located at $43.1k, which is also the .618 Fibonacci level.
One the 1D chart, you can see that BTC is still showing a nice bear flag pattern, with healthy pullbacks happening along the way.
I believe BTC will have its $43.1k pullback then proceed upwards once again.