Bitcoin in major key area
Updated
BTCUSD has reached a major key area on the 1D Chart.
Given the uncertainty in fiat, and how much it was impacted after the Russia-Ukraine crisis, it looks like the market has reached a deciding point on whether BTCUSD should continue the up trend.
While countries are trying to regulate cryptocurrency, the core idea still lies in its blockchain technology and decentralized nature.
Should bitcoin break the high above 46k, we can look toward key levels at 50k, 50.7k and 53.7k and so on.
Given the uncertainty in fiat, and how much it was impacted after the Russia-Ukraine crisis, it looks like the market has reached a deciding point on whether BTCUSD should continue the up trend.
While countries are trying to regulate cryptocurrency, the core idea still lies in its blockchain technology and decentralized nature.
Should bitcoin break the high above 46k, we can look toward key levels at 50k, 50.7k and 53.7k and so on.
Note
Looks like it is creating some pull backs into "potential" demand zones between 41k-42k before pushing upward. This will be my next key area to look out for.Note
Touched potential demand zone and wicked up. Expecting price to create deeper pull backs into 41500 - then watch for bullish signal to enter long.Note
Here we go! In potential demand zone, some 4H bullish candles forming.
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