Earlier in the week, BTC fell down towards the support area of 45-46k. BTC has been trading underneath resistance since early December but recently the price managed to break out of it. However, this breakout didn't occur with a lot of volume, this suggests to me that the price will fall towards the support area. The RSI levels are overbought on the 4hr chart too and appear to be tricking down. This suggests the price could drop down from this point. The target of this trade is around the 46k level, with the stop-loss just above the recent high at 50.1k.
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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.