Published 14. 1. 2022 at 11:16
Hi traders, v past analysis we talked about that Bitcoin around 40 thousand The USD finds a very important accumulation level and we can expect a move upwards. Since then, we’ve been given a selection of stoplosses and price movements of up to $ 39,500, but then that’s exactly what we were talking about – rapid growth towards the first resistance – which is located at 44 tis. USD.
It is one of the few times Bitcoin has shown signs of strength throughout the fall. And given the context we talked about last time, I think we’ll have another wave of reflection.
As we can see in the chart above, testing 44 thousand. USD created a bullish structure on the 4h chart, which has the potential of Bitcoin to bounce back to 46 thousand. USD, which would be around 10% growth from current prices.
The entire support is made up of between 42800-41800 USD and the disability of the movement should be below the previous low, ie 39 650 USD according to the price on Binance.
Situation on the daily chart
After Bitcoin reaches 46 thousand. USD, it will break the bread, whether it will win long-term support and we will really go back to the bullrun, or the correction of the whole market will continue. Achieving 46 ths. The USD does not change the trend on the daily and weekly chart, which remains downtrend. So here I will suggest options.
Bullish script
If the market is to follow the main trend of the monthly chart, 46 thousand. The USD should not be a problem to overcome. We would probably stop here only for one / two days and then we would continue without problems to 50 thousand. USD. Consolidation of more than 46 thousand should follow. and continuing up to 57 and 61 thous. USD.
Bearish script
But as I wrote above, until we exceed 46 thousand USD, we are moving downtrend on the daily chart and lower values can be achieved. And it would be just in the style of the scenario proposed in previous analyzes – testing 46 thousand. USD, and then a drop to the most important support of Bitcoin, to 35 thousand USD. USD.
This will most likely be an accumulation zone, but it would already give us a lot of indications that Bitcoin may eventually move to the bear market.
Conclusion on the current situation
After our last analysis, Bitcoin reflected very nicely and it seems that the reflection will have at least one more wave, to 46 thousand. USD. There will be a critical limit that we will either overcome and Bitcoin can get back into the bullmarket on all timeframes again, or it will fail, and then we will look for support up to 35,000. USD.
So I think so is extremely important its portfolio when reaching 46 thousand. USD secure, or at least to notice and monitor the structure on the lower timeframes.
