Bitcoin(BTC): Getting Ready To Drop?

Another week is showing us some bullish momentum here after that liquidity sweep, which resulted in a touch to the $39,500 zone.

Now that we are seeing another bullish weekly candle, we also see the long wicks that are left by bulls in the upper zones, which indicate a potential short squeeze to happen soon.

With that being said, we are monitoring that $45K zone for any potential touches, but overall, the gameplan remains the same; we want to see lower zones being reached!

Swallow Team

Comment:

As the price is reaching a low of $45K, we are coming to a crucial point where this zone will decide if we see a start of downward movement or a breakout and attempt to touch that 48K zone.

Although we are still looking for that $34K zone, we have to keep an eye on the upper resistances (which currently are $45K and 48K at peak).