Bitcoin analysis weekly, daily, 4 hour chart breakdowns
I like Bitcoin reaching the 50k mark soon but before that it will have a pullback. The weekly chart shows the recent higher low holding 32000 support levels.
Once price get's above 50k which I see it doing it should set things up for another potential run back up to the highs. Although 50k is a key price level, I see 52k as the more important level to break above. Once 52k breaks I do see Bitcoin testing and breaking new highs.
The daily chart shows price is starting to get overextended so look for key support levels first at 43500 which was the exact low on Feb 7th to hold. Then 43k and 42k support respectively.
The 4 hour chart really highlights the recent move first starting on Feb 4th breaking out of that sideways range.
I like to gauge the moves to time the pullback. Let's see if price can break through 44500.
I am bullish on Bitcoin, pullback is coming, watch and see if 43500 holds.
Once price get's above 50k which I see it doing it should set things up for another potential run back up to the highs. Although 50k is a key price level, I see 52k as the more important level to break above. Once 52k breaks I do see Bitcoin testing and breaking new highs.
The daily chart shows price is starting to get overextended so look for key support levels first at 43500 which was the exact low on Feb 7th to hold. Then 43k and 42k support respectively.
The 4 hour chart really highlights the recent move first starting on Feb 4th breaking out of that sideways range.
I like to gauge the moves to time the pullback. Let's see if price can break through 44500.
I am bullish on Bitcoin, pullback is coming, watch and see if 43500 holds.
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