The price continues to move upward, but on the Bit.Cash chart you can see signs of an impending completion of the current upward momentum.
Within the higher time interval, the formation of a descending wedge can be seen. In this wave model, the wave [iv] is completed. After its completion a downward wave [v] should be expected.
On the lower time interval, a downward impulse develops. Now the market is moving within the final wave (v). This indicates a possible completion of the current downtrend either now or in the near term.
Despite the positive dynamics of the market movement, the possibility of resuming the downward movement after the completion of the current wave shouldn’t be excluded.
In this situation, it should be emphasized that short positions remain preferable.
Bit.Cash H1: Wave Analysis for the American Session on 4.8.2025
