Bitcoin - Intraday - We look to Sell a break of 49868 (stop at 50555)
Daily signals for sentiment are at overbought extremes. Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
Bearish divergence is expected to cap gains.
A higher correction is expected.
20 1hour EMA is at 45600.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible.
Our profit targets will be 47826 and 47226
Resistance: 50500 / 51500 / 52000
Support: 50000 / 49400 / 48200
Daily signals for sentiment are at overbought extremes. Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
Bearish divergence is expected to cap gains.
A higher correction is expected.
20 1hour EMA is at 45600.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible.
Our profit targets will be 47826 and 47226
Resistance: 50500 / 51500 / 52000
Support: 50000 / 49400 / 48200
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