$BTC | Update (4H) We’re currently ranging above the previous weekly high on LTF. On the 4H timeframe, we pushed into the top of the channel and saw a strong rejection, with the following candle closing as a bearish engulfing. Now, the first 4H candle of the day pushed up and closed as an inverted hammer, which also signals towards potential bearish continuation. Overall, bears are slowly stepping in and building the case for downside. A break below 73.7k should open the move towards the bottom of the rising wedge. If we get a bearish breakout from this wedge, it could send us towards the monthly open region around 65k over the coming weeks.
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