#BTC

in #bitcoin2 years ago

Bitcoin has been looking miserable ever since it made a high at 45,400 with a strong bearish divergence - you have been informed of all this.

We are currently fighting for trend line support, where we are in a not very strong range, I will explain. The support wall can bounce us towards the 41,800 levels where selling and profit taking occurs. (It's logical, I would do the same.) Support weakens as we try to test it multiple times, but the same is true for resistance, once we test a certain resistance multiple times, there is a much greater chance of a breakout than on the first attempt. For a final breakout we need to get the important 41,800 level in support, otherwise I expect a fall into the red block between 39,600-38,700 or 37,400.

A tiny bullish divergence is forming on the 1h chart, so it should be more on the bullish moves scenario, but we will be surprised for now.

I myself am more inclined towards a bullish move, although my view on the market remains more in neutrality. The market is very uncertain.
BTCUSD_2022-03-04_15-28-59.png

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