This year has started off red, and I don't see the light at the end of the tunnel anytime soon. BTC may have a small rally to test the 46k range, then I would expect 30k support to be tested in the coming weeks.
Note
Bitcoin price hit 43.5k on Jan. 20th (the top of the downtrend channel) and quickly dropped to 32.6k. Not much of a bounce, or volume, once support was found at 32k. Not good news. BTC has been struggling to get back past 37k over the past 24 hours. I expect a slow couple days, sideways price movement, then more red drops to come.
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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.