Now looks the time to be cautious on Bitcoin. After a massive rally off the March 2020 low, the daily chart is now showing multiple points of negative divergence and has also dipped back below the February highs giving us more than enough reason to be cautious at this level.
The weekly chart also shows negative divergence adding weight to the cautious outlook and likelihood of a consolidation either over time or by price.
Expect to see support around the the 42,000 - 46,000 level, given by the February highs and the 2.618x Fib extension from the Dec '17 highs to Dec '18 lows.
