Bitcoin hits as high as 49238 in early trading but was rejected below 50k handle once again. As noted before, upside momentum is unconvincing with bearish divergence condition in hourly MACD. Even in case of another rally attempt, we’d expect 50k to limit upside for now and more consolidation is likely for the next few days.
Though, downside should be contained by 43777 support to set the stage for up trend resumption later in the week. Current rise should target 100% projection of 17629 to 41964 from 29283 at 53618 after clearing 50k handle. But a break of 43777 will bring deeper correction first.
