We look at the 4-hour graph and then predict 2 scenario's: Bullish and Bearish.
The bitcoin price is still moving in a bull flag. The rate does not yet break this flag, bitcoin now also seems to find support at 47,000 dollars. That's the purple line on the chart and it is already above that.
Bullish
The price bounced back above 47,000 dollars (purple line. Bitcoin can now rise to the first yellow line at $ 49,700. This is an important resistance on a daily basis. This price also corresponds to the top line of the flag.
If bitcoin manages to break out of the flag this weekend, there will be little resistance towards 58,000 dollars, the highest price ever.
Bearish
If Bitcoin breaks the support line then first, 45,300 dollars comes into the picture, which is also an important point of support on a daily basis.
If bitcoin continues to drop, 42,000 dollars is a new safety net. This corresponds to the highest point in January. If even that is not feasible, bitcoin can fall below the 40,000 dollar mark and reach the bottom of the flag.
The bitcoin price is still moving in a bull flag. The rate does not yet break this flag, bitcoin now also seems to find support at 47,000 dollars. That's the purple line on the chart and it is already above that.
Bullish
The price bounced back above 47,000 dollars (purple line. Bitcoin can now rise to the first yellow line at $ 49,700. This is an important resistance on a daily basis. This price also corresponds to the top line of the flag.
If bitcoin manages to break out of the flag this weekend, there will be little resistance towards 58,000 dollars, the highest price ever.
Bearish
If Bitcoin breaks the support line then first, 45,300 dollars comes into the picture, which is also an important point of support on a daily basis.
If bitcoin continues to drop, 42,000 dollars is a new safety net. This corresponds to the highest point in January. If even that is not feasible, bitcoin can fall below the 40,000 dollar mark and reach the bottom of the flag.