Bitcoin- will it become bearish again?
After January's low, Bitcoin has started to rise and even has broken above 45k resistance.
However, this break has proven to be a false one and after a few days of consolidation above that level, the price has rolled back down under.
Looking at the daily posted chart we can see that the rise is corrective in nature, lacks impulse, and is drawing a flag.
Now the price is above 43k local resistance and a break here would expose the very important 40k confluence support.
A break under 40k would be very bad for bulls and could signal further losses under the previous recent low and even under 30k.
Only price back above 46k would change this outlook.
However, this break has proven to be a false one and after a few days of consolidation above that level, the price has rolled back down under.
Looking at the daily posted chart we can see that the rise is corrective in nature, lacks impulse, and is drawing a flag.
Now the price is above 43k local resistance and a break here would expose the very important 40k confluence support.
A break under 40k would be very bad for bulls and could signal further losses under the previous recent low and even under 30k.
Only price back above 46k would change this outlook.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
🌟 Bust your trading with 50% deposit bonus:
secure.m4markets.com/links/go/5426
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
🌟 Bust your trading with 50% deposit bonus:
secure.m4markets.com/links/go/5426
Related publications
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.