Overall im still bearish in crypto markets but btc close the week above 34k area which good for this week.
Im expecting a move to the 48k area in the short term future, if there is good volume.
First price action needs to breakout above 40k area and close couple candlestick above it.
After that a move to 48 k area is highly possible but im not sure if price can go higher than that.
We need more time to confirm another bull run.
But lookin at the bigger picture, such as 1 w timefram, price had an insane increase and needs to consolidate or even retrace more before going new ath.
Dont think new ath will happen soon but short term bullish price movement seems highly possible after macd signal and price being in the lower part in BB.
Also price is under 200 day ema which is not a very good sign for bulls. Regardless a move to the 48 k area is expected in the short term with a move back under the 200 day ema. If price could consolidate over 200 day ema after the retrace we should watch the price for bullish action.
Im expecting a move to the 48k area in the short term future, if there is good volume.
First price action needs to breakout above 40k area and close couple candlestick above it.
After that a move to 48 k area is highly possible but im not sure if price can go higher than that.
We need more time to confirm another bull run.
But lookin at the bigger picture, such as 1 w timefram, price had an insane increase and needs to consolidate or even retrace more before going new ath.
Dont think new ath will happen soon but short term bullish price movement seems highly possible after macd signal and price being in the lower part in BB.
Also price is under 200 day ema which is not a very good sign for bulls. Regardless a move to the 48 k area is expected in the short term with a move back under the 200 day ema. If price could consolidate over 200 day ema after the retrace we should watch the price for bullish action.