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Now, let's talk about Bitcoin .
Price bounced from 69k to 42k and now have being in a range between 52k and 45k.
At this moment, price trades in the bottom part of range close to support level 45,500
On a chart I draw both scenarios for long and short.
If in the nearest time price will break support and starts trades below 45-44k in this case will be reasonable open short position with pullback or no and target will be in area 38k-40k.
And the second scenario which I personally believe more is if price will start to grow soon, break at first resistance level 52,000 and then will rise to 58k-60k.
Personally me for 2nd scenario when price will grow, I think till the end of January we can see upward movement and in February possible correction.
Thanks for your time, we hope our work is good for you, and you are satisfied, wish you a good day and big profits.
Now, let's talk about Bitcoin .
Price bounced from 69k to 42k and now have being in a range between 52k and 45k.
At this moment, price trades in the bottom part of range close to support level 45,500
On a chart I draw both scenarios for long and short.
If in the nearest time price will break support and starts trades below 45-44k in this case will be reasonable open short position with pullback or no and target will be in area 38k-40k.
And the second scenario which I personally believe more is if price will start to grow soon, break at first resistance level 52,000 and then will rise to 58k-60k.
Personally me for 2nd scenario when price will grow, I think till the end of January we can see upward movement and in February possible correction.
Thanks for your time, we hope our work is good for you, and you are satisfied, wish you a good day and big profits.