Bitcoin Technical Analysis - 9-Jan-2022
Bitcoin has completed the Head & Shoulders pattern which we specified about a month ago and retested the major support area (40500 - 41000). Bitcoin is now holding the neckline of the pattern and trading above the major support area. Bitcoin should hold that major area, or we will see more downward price movement toward the next support area (48000 - 48200). For now, Bitcoin trying to retest the local resistance area and its first target is to reach 43200. If Bitcoin can achieve that goal, the next target is 44800 - 45000.
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