Bitcoin support wall — brick by brick
BTC is consolidating after reaching new ATH’s in November, looking for price support levels before its next big move.
40k — 47k range has thus far been lightly traded. Strong support levels are forming at 40k. Potentially representing the bottom of the local bear trend. That’s a good thing, even if it hurts.
It also might be a trap. Watch for a break above 47k with confirmation as support.
Break below 40k and confirmation as resistance, and expect a retest of levels as far down as 30k before we can break free from the grip of the current bearish trend and continue towards 100k.
40k — 47k range has thus far been lightly traded. Strong support levels are forming at 40k. Potentially representing the bottom of the local bear trend. That’s a good thing, even if it hurts.
It also might be a trap. Watch for a break above 47k with confirmation as support.
Break below 40k and confirmation as resistance, and expect a retest of levels as far down as 30k before we can break free from the grip of the current bearish trend and continue towards 100k.
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