BTC - 4h. We expect local growth to $35,700.
From January 22, the price on the BTC market is in consolidation. During this time, sellers have shown interest in the range of $33,400-34,000.
The first time buyers in increased volumes attacked this range. The second attempt of sellers to break the range of $33400-34000 occurs at low volumes.
For now, the attempt to raise the price of BTC looks like a corrective movement and the continuation of falling prices to $26,200 remains our main scenario.
However, sellers do not yet have the strength to pass the range of $30700-31300. This fact gives buyers a chance to continue to grow to the top trend line with a target of $35,700.
The main signal for such a scenario will be to hold the $30700-31300 range for the next two hours and close the 12-hour candle above this range. It is possible that sellers will try to break through this range. A similar situation was on January 22. It was the failed low of the 30700-31300 range that encouraged buyers to counterattack.
Therefore, we expect the last blow of sellers before the local rise in the price of BTC.
____________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
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The first time buyers in increased volumes attacked this range. The second attempt of sellers to break the range of $33400-34000 occurs at low volumes.
For now, the attempt to raise the price of BTC looks like a corrective movement and the continuation of falling prices to $26,200 remains our main scenario.
However, sellers do not yet have the strength to pass the range of $30700-31300. This fact gives buyers a chance to continue to grow to the top trend line with a target of $35,700.
The main signal for such a scenario will be to hold the $30700-31300 range for the next two hours and close the 12-hour candle above this range. It is possible that sellers will try to break through this range. A similar situation was on January 22. It was the failed low of the 30700-31300 range that encouraged buyers to counterattack.
Therefore, we expect the last blow of sellers before the local rise in the price of BTC.
____________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
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