$BTC Short/Medium Term Updates

BTC looking bullish as long as it is closing dailies above the support zone around $47,650.

If price loses support at $47,650, then I would be looking for a move down to the next support zone around the mid 40K area. A pullback to this zone could present a great buy opportunity before another leg up!

BTC is possibly working on printing five/six drives of bearish divergence on RSI showing growing strength in the bear's camp. I am watching price action closely here as this strong resistance zone could push price lower before another leg up.


If price can break through this resistance zone around $52,750, then I would be looking for a nice move up to the next resistance zone around $58,000.