It's safe to say Bitcoin and the crypto space has started off 2022 with a huge sell-off. This demise was expected once the 40K demand zone was breached on the weekly.
With such an impulsive move it is not uncommon to experience some form of relief (profit taking)
In a nutshell - it is quite normal to experience a relief (profit-taking) from this sell-off. Until the 44.5K region is not broken on at least the daily I do expect further demise and a decline to the 30K zone.
With such an impulsive move it is not uncommon to experience some form of relief (profit taking)
In a nutshell - it is quite normal to experience a relief (profit-taking) from this sell-off. Until the 44.5K region is not broken on at least the daily I do expect further demise and a decline to the 30K zone.
Comment:
Weekly close is key.