02.02.2022, 06:07
Throughout the last week, Bitcoin has been forming an uptrend. Let's see if it is worth waiting for a complete reversal of the market and further upward movement, or are we dealing with a correction that will end in a sharp price decline?
The market bounced off the key support level of $32,900. The movement started from the Point of Control, which was still on the left side of the chart. Cluster support indicates the presence of demand at this level. An additional sign of a local buyout was the control of the delta.
Despite the good dynamics of buyers, globally, the downtrend continues. The key zone from which the downward movement is more likely to resume is $41,500-$41,800. From this range, a movement to new lows and a test of the price of $28,000 per bitcoin can be seen.
It is irrational to make a decision to buy digital gold now. Weighing all the signs, the probability of seeing marks below the current ones is quite high. Priority trades are shorts from selected levels.
The market bounced off the key support level of $32,900. The movement started from the Point of Control, which was still on the left side of the chart. Cluster support indicates the presence of demand at this level. An additional sign of a local buyout was the control of the delta.
Despite the good dynamics of buyers, globally, the downtrend continues. The key zone from which the downward movement is more likely to resume is $41,500-$41,800. From this range, a movement to new lows and a test of the price of $28,000 per bitcoin can be seen.
It is irrational to make a decision to buy digital gold now. Weighing all the signs, the probability of seeing marks below the current ones is quite high. Priority trades are shorts from selected levels.
