Considering the upcoming support and resistance areas, these two scenarios can be taken. Both scenarios are possible, the bearish scenario considering the closeness to the halving and the bullish scenario considering the drawn channel as well as the USDT chart and a series of indicators.
Due to the increase in the price of Bitcoin in the past few days, we expect the price to be corrected in the current range, also based on the RSI index, it can be understood that the correction is certain.
Due to the collision with the 200-day trend line in 4 hours and the approach of this trend line to the support points, the possibility of correction is high.
KUCOIN:BTCUSDT Bitcoin could rise to 43,300 after hitting support at 40,700 and will probably go up to 48,000 after that