all depends on 50k
right now the price is moving within 2 rising wedges; one with the red line as its upper limit which coincides with the very powerful psychological resistance of 50k, and one with the golden line as its upper boundary; so if the price somehow manages to break though the red line we should aim for at least 55k and even beyond due to the power of FOMO kicking in. but if we get rejected from 50k again, i think we should see ourselves somewhere around 44k in middle term. and after that who knows.
by the way, there are lots of bearish divergences on Momentum and MACD, in most time frames, so the situation is 70-30 against the bulls right now. but we have seen BTC overcoming even more difficult barriers in the past. my advice would be sitting out until the dust settles . for sure this is not the time to buy, but as always, please do your own research before making any decision.
trade safe
by the way, there are lots of bearish divergences on Momentum and MACD, in most time frames, so the situation is 70-30 against the bulls right now. but we have seen BTC overcoming even more difficult barriers in the past. my advice would be sitting out until the dust settles . for sure this is not the time to buy, but as always, please do your own research before making any decision.
trade safe
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