Bitcoin Faces Key Resistance: A Market Shift on the Horizon?

16 Apr 2023

As previously noted, Bitcoin has hit a resistance area, causing the price to pause. Numerous indicators point to a highly overbought market, potentially leading to a price decline. The closest liquidity zone is highlighted in purple. I remain in long positions, but my indicators might soon prompt me to exit. I'm undecided about opening a short position, but should I proceed, the risk would be minimal, constituting only 0.4% of my capital.