CRYPTO NEWS TODAY - Market is in Correction for 2 5 % - BTC Down at $42k
CRYPTO NEWS TODAY - Market is in Correction for 2 5 % - BTC Down at $42k
00:01 Intro
01:12 Crypto News
02:08 Bitcoin News
03:21 Ethereum News
04:11 Bitcoin Technical Analysys
06:03 Bitcoin Price Prediction
06:20 Outro
Bitcoin failed to end the week of February 7-14 in the green zone and formed a long upper wick on the chart. However, short-term indicators promise BTC to turn around soon.
During the week of January 31-February 6 bitcoin (BTC) had a bullish candlestick, but the following week it gave up a bit and put a bearish candlestick with a very long upper wick on the chart.
Within the whole bearish move of the price, the local high for BTC at $45,821 was formed near the Fibo level of 0.382 of correction at $46,700, where the area of horizontal resistance is also located.
Thus, at this stage, this area can act as the main resistance.
On the daily chart, bitcoin rebounded from the Fibo level of 0.618 of the last part of the bearish move (red icon). This resistance is located at $44,900.
Technical indicators are giving bullish signals. This is especially evident in the RSI, which rose above the 50 mark, which is the watershed between the bullish and the bearish trend.
The MACD is also rising, although it has not yet entered the green zone. This will be another signal of a bullish trend.
#cryptocurrency #crypto #bitcoin
00:01 Intro
01:12 Crypto News
02:08 Bitcoin News
03:21 Ethereum News
04:11 Bitcoin Technical Analysys
06:03 Bitcoin Price Prediction
06:20 Outro
Bitcoin failed to end the week of February 7-14 in the green zone and formed a long upper wick on the chart. However, short-term indicators promise BTC to turn around soon.
During the week of January 31-February 6 bitcoin (BTC) had a bullish candlestick, but the following week it gave up a bit and put a bearish candlestick with a very long upper wick on the chart.
Within the whole bearish move of the price, the local high for BTC at $45,821 was formed near the Fibo level of 0.382 of correction at $46,700, where the area of horizontal resistance is also located.
Thus, at this stage, this area can act as the main resistance.
On the daily chart, bitcoin rebounded from the Fibo level of 0.618 of the last part of the bearish move (red icon). This resistance is located at $44,900.
Technical indicators are giving bullish signals. This is especially evident in the RSI, which rose above the 50 mark, which is the watershed between the bullish and the bearish trend.
The MACD is also rising, although it has not yet entered the green zone. This will be another signal of a bullish trend.
#cryptocurrency #crypto #bitcoin
