๐ฅ BTC Potential Reversal Area: Will It Be Enough?
Recently I made an analysis on BTC. In this analysis I wrote that we were very extended after a massive bullish move, and that a correction was likely to occur.
As of today, we've reached my initial area of support. If there's going to be a reversal, it will happen in the coming 48 hours. Wait for a strong bullish candle to bring us back above $41k, ideally $42k.
However, I'm not sure if it will be enough. The Ukrainian situation is getting worse with the day, which is obviously bad news for the markets. In my view there's a decent possibility for BTC to simply fall through $40. In that case, the bearish target would be around $37k. Let's hope this area will hold.
Happy trading!
As of today, we've reached my initial area of support. If there's going to be a reversal, it will happen in the coming 48 hours. Wait for a strong bullish candle to bring us back above $41k, ideally $42k.
However, I'm not sure if it will be enough. The Ukrainian situation is getting worse with the day, which is obviously bad news for the markets. In my view there's a decent possibility for BTC to simply fall through $40. In that case, the bearish target would be around $37k. Let's hope this area will hold.
Happy trading!
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