Get started
WinMoreLoseLess

Bitcoin may rally and test 46k, then more red to come!

Short
Bitcoin / TetherUS (BINANCE:BTCUSDT)  
WinMoreLoseLess Updated   
BINANCE:BTCUSDT   Bitcoin / TetherUS
Trend Analysis Harmonic Patterns Technical Indicators Bitcoin (Cryptocurrency) BTC BTCUSD
3
1
trendanalysis harmonicpatterns indicator bitcoin btc btcusd
This year has started off red, and I don't see the light at the end of the tunnel anytime soon. BTC may have a small rally to test the 46k range, then I would expect 30k support to be tested in the coming weeks.
Comment:
Bitcoin price hit 43.5k on Jan. 20th (the top of the downtrend channel) and quickly dropped to 32.6k. Not much of a bounce, or volume, once support was found at 32k. Not good news. BTC has been struggling to get back past 37k over the past 24 hours. I expect a slow couple days, sideways price movement, then more red drops to come.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.