BTC futures: a lot of resistance after Feb deathcross
BTC after a deathcross early Feb, is fighting to hold 44k & may also fail to break out of the cloud. It is being rejected by ma200 as of this time. Rsi being near oversold, we may see a return to the 34 to 37k zone in the short term before another rally attempt.
There are still a lot of resistances ahead so a retest of 30k is still possible specially with more negative news. From 30k there will come enough buyers to push it to out of the cloud towards 52k.
On the positive side, BTC dominance is already ready to breakout of consolidation base. So there is also a chance 33k is already the bottom since equities seem to have bottomed last Jan 24 & likely to be making a higher low already.
Not trading advice.
There are still a lot of resistances ahead so a retest of 30k is still possible specially with more negative news. From 30k there will come enough buyers to push it to out of the cloud towards 52k.
On the positive side, BTC dominance is already ready to breakout of consolidation base. So there is also a chance 33k is already the bottom since equities seem to have bottomed last Jan 24 & likely to be making a higher low already.
Not trading advice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.