After more than five days of consolidation, it appears that the current phase is drawing to a close.
The Bullish momentum is on the rise, indicating a potential breakthrough above the current resistance zone, likely propelling the price towards $49k.
Conversely, if the bearish pressure overwhelms the bullish momentum at resistance, a retracement towards $40k and possibly $38k could occur.
What's more, the emergence of hidden Bullish Divergence suggests a probable upside breakout and alignment with the previously mentioned scenario.
In addition, recent market trends, volume and a couple of confirmation layers further support the notion of an imminent upward movement in price.
Remember to always trade with caution and wait for the levels to be fully developed before you open any position.
Risk Management is key.
~𝕬𝖓𝖎𝖙𝖆 𝕯𝖚𝖆𝖉𝖔
𝕿𝖍𝖆𝖙 𝕿𝖗𝖆𝖉𝖊𝖗 𝖙𝖍𝖆𝖙 𝖂𝖗𝖎𝖙𝖊𝖘
The Bullish momentum is on the rise, indicating a potential breakthrough above the current resistance zone, likely propelling the price towards $49k.
Conversely, if the bearish pressure overwhelms the bullish momentum at resistance, a retracement towards $40k and possibly $38k could occur.
What's more, the emergence of hidden Bullish Divergence suggests a probable upside breakout and alignment with the previously mentioned scenario.
In addition, recent market trends, volume and a couple of confirmation layers further support the notion of an imminent upward movement in price.
Remember to always trade with caution and wait for the levels to be fully developed before you open any position.
Risk Management is key.
~𝕬𝖓𝖎𝖙𝖆 𝕯𝖚𝖆𝖉𝖔
𝕿𝖍𝖆𝖙 𝕿𝖗𝖆𝖉𝖊𝖗 𝖙𝖍𝖆𝖙 𝖂𝖗𝖎𝖙𝖊𝖘