Here’s a quick look at BTC 4 hr chart. As we can see the price is right now in a bigger falling wedge .
Also the 200 EMA on the 4 hr chart has worked as a support throughout the bullrun. If we can get back above and close above it, that would be a bullish sign – otherwise we will continue lower!
Also the resistance zone is a very important zone to overcome. If the price can manage to get past the resistance zone , 60k is then very likely and i should remind you that we’ve got an unfilled CME gap at 60.3k.
The volume is decreasing and the price is increasing – that’s a bearish sign! We are at the top of the falling wedge , and it would make sense to get a pullback or a bigger breakout to the upside.
If we break below the crucial zone, the price will very likely get down to the support zone .
Follow me for daily profitable trading setups
BTC dictates the market. If BTC falls, then Alts will fall as well. Trade safe!