Bitcoin has completed a correction to the $45.6 pivot top on Tuesday, following a sharp rejection from the $47K barrier earlier today. The benchmark cryptocurrency now coasts around the $46K level after bears failed to capitalize on the downtick and push for the $45K support and lower.

BTC looks poised to re-emerge in a bullish wave as the hourly stochastic indicator shows that trading conditions are at oversold levels. A recovery above the $46.3K resistance, hourly 100 EMA , should prompt further upward mobility towards the $47K – $48K axis in the near term.

Meanwhile, my resistance levels are at $46,300, $47,000, and $48,000, and my key support levels are at $45,650, $45,000, and $44,000.

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Bitcoin Market Capitalization: $874.2 billion

Bitcoin Dominance: 40 .8%

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