BTC Update
So far $36,000 working as good support and the long wicks showing buyers are eagerly buying below the $35,000 area. The next resistance zone for BTC is $38,500-$39,300 zone and after that the $42,000 major resistance area. We will see some accumulation below $40,000 before going up. The FUDs are well absorbed by the market and buyers defend the $33,500 area. $30,000 seems to be the bottom of this rally and BTC bulls defending it. If we reject the long wicks $35,000 seems to be the double bottom of the structure. Market will stable here if no more FUDs come (only the Korean ban FUD is left but that is not necessary). This structure is similar to March 2020 dump and we may see a quick recovery in the next 3-4 weeks. Market turns more bearish if a candle close below the $35,000 support.
So far $36,000 working as good support and the long wicks showing buyers are eagerly buying below the $35,000 area. The next resistance zone for BTC is $38,500-$39,300 zone and after that the $42,000 major resistance area. We will see some accumulation below $40,000 before going up. The FUDs are well absorbed by the market and buyers defend the $33,500 area. $30,000 seems to be the bottom of this rally and BTC bulls defending it. If we reject the long wicks $35,000 seems to be the double bottom of the structure. Market will stable here if no more FUDs come (only the Korean ban FUD is left but that is not necessary). This structure is similar to March 2020 dump and we may see a quick recovery in the next 3-4 weeks. Market turns more bearish if a candle close below the $35,000 support.
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