Bitcoin (BTC) still consolidates above the S / R level of $ 47,000. Therefore, from a technical point of view, there was no significant change. We only moved slightly above the said level, which can also be considered a positive development. In any case, the FOMC is to decide on future monetary policy tonight. Therefore, it is good to expect more volatility. But nothing particularly visible needs to happen. It depends on how close their decision will be to what the market expected. If everything will be so long called. priced in, nothing may happen at the moment.
Current situation at 4H BTC / USD
In any case, the course still stays above S / R level $ 47,000. We’ve been here for quite some time, it’s slowly going to be two weeks. Therefore, I would venture to say that Bitcoin is ready for more movement, wherever it is. But if we are to assume that the current support bulls have not released, we should rather expect to test $ 52,500. We are not sure, but after such a long consolidation in support, I would expect growth.
The price is actually rising slightly, so we’ll see how long it lasts. First, it is necessary to cross the upper limit of that descending channel. Subsequently, it is necessary to break the resistance diagonal. And only then will it be $ 52,500, where it’s strong enough confluence. That is why it is necessary to overcome this level and get back on your side.
Otherwise, the volumes suggest that a more dynamic price action could come. Everyone is just waiting for what’s to come, which is actually quite reasonable. On the other hand, some may like to take risks and may bet that support will withstand selling pressure.
In conclusion
In the event that the $ 42,000 falls, it is almost certain that we will retire the $ 42,000. This time, the course would probably penetrate much deeper into the support zone. On December 4, there was more or less a small leak.
ATTENTION: No data in the article is an investment board. The analysis does not try to predict future price developments. It serves exclusively as an educational text on how to approach the market mentally. 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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