Bearish Divergence and Ending Diagonal Exhaustion Pattern

17 feb 2021

On the 4hour chart prices have risen at each stage, forming a diagonal exhaustion pattern. This coupled with a loss of momentum on the MACD is pointing to a Bearish Divergence. If the break occurs on the downside then a wash to 40-41k is possible with very strong support at these levels. See what happens, its not confirmed until it breaks. My strategy is to sit on the side-lines and buy into the altcoin market at the 40-43k BTC Zone. There is also a huge psychological resistance level at 50k