BTCUSD has been rejected at key resistance in the 4800-5000 zone, printing a Bearish Engulfing reversal candle on the H4 earlier in the session:
Pair is currently testing initial support above 4700, marked by the broken wedge top. A break back inside the wedge would target the 4550-4635 support zone. There is significant risk of a much deeper correction, though I like longs in that zone regardless.
Looking for accumulation followed by an eventual break above 5000.
Team Aus footer by the amazing @bearone
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