BTC - Weekly Perspective - 01/28 to 02/04

Crypto has been fighting hard to stay above the 40K level, demonstrating that the bulls have a slight advantage over the bears in terms of strength, however, the bears have a great trick up their sleeve; strong resistance in the 44.9K region plays in its favor.

Let's go graph

In the long term, things haven't changed yet, and we are on an upward trend.

Note: The red lines are resistance, if they are overcome, the yellow lines will be the targets of the red lines.

Going into the medium term, we have the 40K region being defended by the bulls. Losing this range could take prices to the values shown in the image below. See that we are trying to form a downward pivot if prices lose the 41.4K region, and the bulls tried to defend the region

Note: Note: The red lines are supports, if they are defeated, the yellow lines will be the targets of the red lines.

In the short term, prices are working within a downward pivot. I emphasize that this pivot refers to the correction that prices are suffering after the beautiful rise we had in recent weeks, in which it left 30K and sought the resistance region at 44.9K. For the moment, 43.8K could be a resistance, where, if not overcome, it could form a short-term LTB.

Note: Note: The red lines are supports, if they are defeated, the yellow lines will be the targets of the red lines.

In conclusion we have

a) The 44.9K region is strong resistance on the monthly chart;
b) On the weekly chart, bulls are defending the 40K region, and the loss of this range opens space for sharper falls;
c) On the daily chart we have an attempt to react from the longs, who are defending the 40K region but, just above, at 43.8K we will have resistance in this chart time that will need to be overcome for the long-term trend to remain strong.

BTC here!

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Be aware, if you buy, use stop loss.
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