BTC has been trading sideways at the price of $7.944. We see potential for the pullback and downward correction.
According to the H4 time-frame, we found that there is momentum up decreasing, which is sign that buying looks risky. BTC is in extended run phase and potential pullback is expected. We found the bearish divergence on the slow Stochastic oscillator, which is another sign of the potential pullback incoming. The ADX is going down indicating potential weakness on BTC.
Swing high – $8.153
Swing low – $7.590
Previous high became support – $7.413
Swing low – $6.834