BTC has fallen sharply last week, but we can expect a trend change here.
Most recently, it formed a descending wedge at the 4-hour level and broke above. Today's rebound of Japanese stocks and the spread of risk-on-mood are the factors.
Technically, it's starting to rise with support for $44,000. The most recent point of interest is still $48,000.
It seems to divide the light and dark of the market after that.
MACD is still down, but RSI is turning up. There is a great chance that you will be bought from here.
The dollar remains strong, but when this is the time to take a break, strong momentum may come back to BTC.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.