The last 48 hours have been a better-than-expected BTC performance for me from my previous analysis, as the benchmark shattered several price ceilings to break the $45K top in two days, considerably sooner than I anticipated.
However, the benchmark cryptocurrency has now fallen into correction mode as it drops near the $43K base. That said, I expect bulls to put up a good fight at the $43K support, given the combination of supporting factors around that level, including the daily 50 SMA, the $43K support line, and the prevailing market mood.
We should see a goodish bounce off the $43K support in the near term, followed by a retest of the $45K barrier. Successful clearance of that mark should help BTC snap the $46K pivot top over the coming days.
Meanwhile, my resistance levels are at $44,000, $45,000, and $46,000, and my key support levels are at $43,000, $42,000, and $41,000.
Total Market Capitalization: $1.98 trillion
Bitcoin Market Capitalization: $824.9 billion
Bitcoin Dominance: 41.7%
Market Rank: #1
However, the benchmark cryptocurrency has now fallen into correction mode as it drops near the $43K base. That said, I expect bulls to put up a good fight at the $43K support, given the combination of supporting factors around that level, including the daily 50 SMA, the $43K support line, and the prevailing market mood.
We should see a goodish bounce off the $43K support in the near term, followed by a retest of the $45K barrier. Successful clearance of that mark should help BTC snap the $46K pivot top over the coming days.
Meanwhile, my resistance levels are at $44,000, $45,000, and $46,000, and my key support levels are at $43,000, $42,000, and $41,000.
Total Market Capitalization: $1.98 trillion
Bitcoin Market Capitalization: $824.9 billion
Bitcoin Dominance: 41.7%
Market Rank: #1
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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.