#BTC

in #btc2 years ago

Bitcoin has seen some nice buying today all the way to resistance at 39,300-39,600 where it has been clearly rejected and it is quite understandable, people who are in long positions start taking profits here and short positions are activated pushing the price down.

We are currently in the testing phase of the resistance wall of the bearish channel that has formed here on BTC.

Important resistances: 39.300, 39.600, 40.300, 40.800, 40.300, 41.800, 42.500.
Important support levels: 38.300, 37.400, 36.600, 36.300, 35.300.

Fear and greed index is at a very low level for several days now at 25, which indicates extreme fear in the market.

I personally lean towards the fakeout option and I don't believe that the bottom after 44,500 is 36.35 and I am still convinced of a subsequent lower low due to the situation we have in the world, anyway, that is just my subjective opinion.
BTCUSD_2022-02-23_17-28-36.png

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