Bitcoin Enters Consolidation Phase (Short-Term 4H TA)
We have a bearish bias developing once more short-term.
We have a strong rejection at the ~45.5K resistance level on 10-Feb.
What follows is a lower high and a break below EMA10.
EMA50 is now being challenged as support and very likely to break.
If the resistance continues to hold, we will see Bitcoin next move to around $40,000 followed by 38K.
You can find additional support levels on the chart.
Namaste.
We have a strong rejection at the ~45.5K resistance level on 10-Feb.
What follows is a lower high and a break below EMA10.
EMA50 is now being challenged as support and very likely to break.
If the resistance continues to hold, we will see Bitcoin next move to around $40,000 followed by 38K.
You can find additional support levels on the chart.
Namaste.
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