Two days ago I made an analysis on the short-term price movement of Bitcoin. I foresaw a bullish move towards $48.5K, and eventually a push towards $50k.
It appears that Bitcoin is facing strong resistance at the $48.5k level, leading to two consecutive red days in a row now (assuming today will end up red).
The main area to watch for in the coming days is the Break Out Zone, ranging from $47k - $47.5k. As long as BTC stays above this area, I'm bullish.
On the other hand, the bears could take over and push the price back towards $44k, but I need proper confirmation for that.
Main target in the near term is again $48.5k.
Happy trading!
It appears that Bitcoin is facing strong resistance at the $48.5k level, leading to two consecutive red days in a row now (assuming today will end up red).
The main area to watch for in the coming days is the Break Out Zone, ranging from $47k - $47.5k. As long as BTC stays above this area, I'm bullish.
On the other hand, the bears could take over and push the price back towards $44k, but I need proper confirmation for that.
Main target in the near term is again $48.5k.
Happy trading!
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Related publications
Disclaimer
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🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.