Bitcoin has been able to continue its slow upwards ascent and is now tepidly advancing towards $5,400, which has historically proven to be a strong level of resistance that BTC has failed to break decisively above since it first began surging earlier this month.<\/p>\n
Now, one prominent crypto<\/a> analyst believes that Bitcoin\u2019s fractal patterns may signal that it will drop towards $4,600 before incurring significant buying pressure that will send it surging up towards $6,800.<\/p>\n At the time of writing Bitcoin<\/a> is trading up less than 1% at its current price of $5,340 and is up slightly from its 24-hour lows of $5,280.<\/p>\n Bitcoin has been slowly grinding higher over the past seven days, climbing from lows of $5,000 to its current price levels. This upwards climb has led many investors to flip bullish on the cryptocurrency, as its current stability does appear to be very positive.<\/p>\n Despite this, The Cryptomist, a popular crypto analyst on Twitter, explained that she is leaning bearish on BTC in the near term as it is currently forming a rising wedge pattern that may lead to a breakdown.<\/p>\n \u201c$BTC Fibs on the RSI and candle upon the daily are still reacting well. Additionally, we have formed a rising wedge here on 4hr, which typically leads to breakdown. This is only invalidated if 5390 can be broken and sustained,\u201d she explained in a recent tweet.<\/p><\/blockquote>\n $BTC<\/a><\/p>\n Fibs on the RSI and candle upon the daily are still reacting well Trade safe loveys pic.twitter.com\/jWZkFxofAC<\/a><\/p>\n — The Cryptomist (@Thecryptomist) April 20, 2019<\/a><\/p><\/blockquote>\nBitcoin (BTC) Slowly Approaches $5,400<\/strong><\/h2>\n
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Additionally, we have formed a rising wedge here on 4hr, which typically leads to breakdown
This is only invalidated if 5390 can be broken and sustained <\/p>\n