CRYPTO NEWS - Bitcoin Is On Flat Around $46000 - Market is in Red
00:05 Intro
01:48 Crypto News
03:17 Bitcoin News
04:32 Ethereum News
05:15 Bitcoin Technical Analysys
06:40 Ethereum Technical Analysys
07:01 Crypto Market News
08:55 Outro
Bitcoin has fallen to near $46000 again. This level is crucial for us, because it acts as a local resistance, which keeps the first cryptocurrency in flat state.
If going below this level, we will rather quickly go to the price range between $40,000-$43,000. This move will be a continuation of the previously established downtrend and the final formation of the right shoulder of the bearish "Head & Shoulders" pattern. In this case, the largest digital asset will go very quickly to the price marks, up to $30,000.
In favor of the above, another local formation speaks. After the market collapse of December 4, bitcoin began to move within a downward wedge. However, due to the fact that the entry into this figure was made through the dump, the exit from it will occur according to the same scenario. There is still hope that the "Double Bottom" that has been forming since mid-December will bounce back. However, given the current strength of the bulls, the likelihood that the largest digital asset can break out of the "Head and Shoulders" zone is negligible. Most likely, even if the price of BTC grows in the short term, it will be a weak movement, in the framework of which, the first cryptocurrency will not be able to overcome even the mark of $48,000-$50000.
The weakness of the buyers is also evidenced by the absence of new highs on the chart. It is highly probable that bears will break through the support and in the next few days we will sell out even with the support of the psychologically important level near the area of $45000.
Another important factor, signaling that BTC is going to move strongly is the significant decrease of volatility. In the last few days, the first cryptocurrency has been moving in a narrow price range, the size of which continues to decrease. At this rate, we may already be witnessing a new price collapse today.
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