What's Hot

    Chinese tax authorities step up pressure on private crypto investors

    26.01.2023

    Tether will look for crypto transactions that pay for child pornography

    26.01.2023

    On-chain activity in the Optimism network collapsed after the end of the NFT bonus program

    26.01.2023
    Facebook Twitter Instagram
    Friday, January 27
    Facebook Twitter Instagram
    Crypto News
    • Home
    • Bitcoin
    • Ethereum
      • Altcoins
      • ICO
    • Analytics
    • Blockchain
    • Other
      • DeFi
      • Mining
      • Regulators
      • Security
    Crypto News
    Home»Bitcoin»BTC Holds Above Support And Consolidates Above $ 46,000
    dca93c65897a0146abdffcfbabd63a8cc792d82f
    Bitcoin

    BTC Holds Above Support And Consolidates Above $ 46,000

    AdministratorBy Administrator05.01.2022No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email


    Reading time: ~ 2 m


    Bitcoin is trading within the support area of ​​the short-term bullish pattern. This support has caused BTC to rebound many times, so a bullish breakout appears to be the most likely scenario.

    Since the beginning of December, Bitcoin (BTC) has been trading in the range of $ 46,300 – $ 51,750. At the same time, since December 30, trading has been carried out in the lower part of this range.

    The price dipped slightly under the range support, but did not absorb the December 17 lows (red line). As long as BTC is trading above this line, the likelihood of a bullish rebound remains.

    BTC Holds Above Support And Consolidates Above 46000

    Source: TradingView

    Short-term pattern BTC

    Analysis of shorter timeframes shows that Bitcoin has been trading within a falling wedge since December 28. Typically, a wedge is a bullish pattern, so a bullish breakout from that pattern appears to be the most likely scenario.

    In addition, the MACD and RSI indicators give bullish divergence signals. This means that the decline in price does not receive support in the form of a similar decline in momentum in the pair.

    The nearest resistance is located in the area of ​​$ 48,000. It is represented by the Fibo level of 0.382 correction.

    BTC Holds Above Support And Consolidates Above 46000

    A source: TradingView

    Long-term dynamics

    A similar picture is displayed on the daily chart for BTC. Here the price made a bullish breakout of the downtrend resistance line and subsequently turned it into support.

    Although Bitcoin has not yet started its active rally phase, the price is showing clear bullish signs.

    As with the 6-hour timeframe, the MACD and RSI indicators give strong bullish divergence signals (green lines).

    If the growth develops, the nearest resistance levels will meet the price in the region of $ 52,300 and $ 58,700. The first level coincides with the resistance of the short-term range, and only its breakdown and exit from the range will allow the BTC rate to reach the second level.

    1641376865 252 BTC Holds Above Support And Consolidates Above 46000

    Source: TradingView

    Disclaimer

    All information contained on our website is published in good faith and objectivity, and for informational purposes only. The reader is solely responsible for any actions he takes based on the information received on our website.




    #BTC #Holds #Support #Consolidates

    BTC consolidates holds support
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Avatar of Administrator
    Administrator

    Related Posts

    AI Calls Bitcoin a Tool to Destroy Central Banks

    26.01.2023

    Ethos Wallet will support the development of the Sui blockchain

    26.01.2023

    Anthony Scaramucci Predicts Bitcoin’s “Renaissance” in 2023

    26.01.2023

    Crypto Analyst Expects Bitcoin to Rise Above $30,000 in February

    26.01.2023
    Add A Comment

    Leave A Reply Cancel Reply

    Recent Posts
    • Chinese tax authorities step up pressure on private crypto investors
    • Tether will look for crypto transactions that pay for child pornography
    • On-chain activity in the Optimism network collapsed after the end of the NFT bonus program
    • Shiba Inu Network Transferred 3 Trillion SHIB Tokens Worth $38 Million
    • AI Calls Bitcoin a Tool to Destroy Central Banks
    Recent Comments
    • 수원출장 on A professor from a US university restored the Tornado Cash code to GitHub
    • 123 on Taproot support added to LND Lightning client
    • houston junk car buyer on 16,000% increase in social media mentions in 2021 Shiba inu
    • Jim Carrey Memy on Bitwise Launches NFT Tracking Index Fund
    • hotshot bald cop on Kava developers launch testnet with EVM support
    Archives
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • September 2022
    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • April 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • April 2021
    • March 2021
    • February 2021
    • January 2021
    • December 2020
    Categories
    • Altcoins
    • Analytics
    • Bitcoin
    • Blockchain
    • Ethereum
    • ICO
    • Mining
    • Other
    • Regulators
    • Security
    Meta
    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    Top Posts

    Subscribe to Updates

    Get the latest sports news from SportsSite about soccer, football and tennis.

    Advertisement
    Demo
    Facebook Twitter Instagram Telegram
    • Home
    • Bitcoin
    • Ethereum
    • ICO
    © 2023 Bt-Crow.com - CryptoNews

    Type above and press Enter to search. Press Esc to cancel.