#BTC

in #bitcoin2 years ago

Bitcoin headed into a support block at 39,600-38,700 after yesterday's analysis. If a breakout through these values to the downside and confirmation in resistance comes here, I expect a quick drop to 37,400-35,300.
In yesterday's analysis I considered a possible buyout due to a bullish divergence, which I dismissed after a few hours due to a break in that divergence.
Anyway, on the 1D chart a sideways channel has been forming for some time now with resistance around 45,500 and support around 34,300-33,000. The 33,000 level is keeping us from falling to +-30,000, once we break this strong level I expect a quick drop to just around 30,000, but that is very early, but this scenario is also on the cards.

Personally I am very bearish if I look at the current market situation.
BTCUSD_2022-03-05_16-30-20.png

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