Back on Square 🟧
$BTC (4h)
- Price : Tested the resistance level at 112.1k which has been identified for several months
- RSI : Printed a bearish divergence & has now exited the overbought level
- MACD : Confirmed a bearish crossover right at the local top
- TL1 : Remains intact
Classic signals of momentum reversal
Trendline 1 remains intact despite a few intraday wicks or brief deviations below it
Given these confluences we can reasonably expect further downside or consolidation in the short term
This phase is likely to be measured in days 📏