Bitcoin (BTC) managed to maintain a key level, the breakthrough of which would certainly mean a gradual decline to 30,000 USD. Given that rejection candle that is on weekly chart, many immediately predicted that we were going down immediately. But as I said, I was more inclined to stay between $ 42,000 and $ 47,000 for a while. But that will depend on the course in the current week. And in the last 12 hours, it just looks like $ 42,000 in sales pressure has withstood.
Current situation at 1D BTC / USD
So as can be seen from the graph, S/R level $ 42,000 worked again. Among other things, be sure to register that the course responds perfectly to the touch with 50 days moving average. As if it were a lifeline. So far, we haven’t strayed too far from support, but if the market maintains its current inertia, we could be at $ 47,000 within 48 hours.
And on the basis of the second attempt, we will make sure that bitcoin has enough strength to exceed the level. In other words, we will monitor whether this weekly rejection is confirmed or, conversely, is refuted by the market. Until then, nothing much will change.
Indicators
As for the daily RSI, the near peak is about 65 points. The current value is almost 60 points. Therefore, the market is still quite close to the 70-point mark, which is crucial. By the way, those 70 points will probably cost about the $ 47,000. According to MACD the market is gaining momentum.
In conclusion
For the sake of completeness, I repeat that the levels around $ 47,000 are like “concrete” for the course. The resistance one confluence it is really strong here due to many factors across time frames.
ATTENTION: No data in the video is an investment board. The analysis does not try to predict future price developments. It serves exclusively as educational content on how to approach the market. Before you invest, do your own research and analysis, you always trade at your own risk. The kryptomagazin.cz team strongly recommends individual risk considerations!
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