Bitcoin has weakened further, but found support at our level at $46.2K, to which you were alerted in yesterday's report. There is a cluster of support levels below, in the $45K range, but then a vacuum zone down to $43.8K if weakness persists. We may be forming a bear consolidation type pattern which could suggest we are gearing up for another selloff. But we are due to for a bit of ranging otherwise, and the range from $46.2K to $48.2K seems reasonable for now, unless we catch some momentum, which could bring us back to $49.7K.
Note
Cryptos getting a lift off lower dollar values due to Powell's dovish comments
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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.