As we wrote to you in the last analysis, the growth in the price of Bitcoin is currently driven by strong global reports on its adaptation and investment by large companies.
It is this factor that keeps the price still in tension, and even though we have seen a short-term price correction after reaching $ 60K, the price is coming back up again.
So what to watch now and what is the likely scenario?
First of all, we need to re-analyze the news from the last seven days that moved the market, such as the launch of the first platform for regulated trading in digital assets in Hong Kong or Visa's efforts to enable the conversion of BTC to Fiat currency in 70 million locations worldwide. As you can see, the positive news is not going away, so it is highly likely that we will witness regular so-called boost news.
Secondly, you can see the technical analysis and the fact that our reversal zone in the area of $ 58,200 to $ 62,000 really works, which has been confirmed by several moves. However, this zone has two faces, and in addition to bouncing BTC down as we could see, the opposite scenario can come, which will be a strong impulse for the bulls, especially if we get above this zone, ie $ 62k.
Technical analysis also says:
New current support at $ 50K
Support in the area of $ 42K – $ 43K
Key support in the area of $ 28K – $ 30K
The $ 58,200 to $ 62,000 range is a confirmed reversal zone
It is this factor that keeps the price still in tension, and even though we have seen a short-term price correction after reaching $ 60K, the price is coming back up again.
So what to watch now and what is the likely scenario?
First of all, we need to re-analyze the news from the last seven days that moved the market, such as the launch of the first platform for regulated trading in digital assets in Hong Kong or Visa's efforts to enable the conversion of BTC to Fiat currency in 70 million locations worldwide. As you can see, the positive news is not going away, so it is highly likely that we will witness regular so-called boost news.
Secondly, you can see the technical analysis and the fact that our reversal zone in the area of $ 58,200 to $ 62,000 really works, which has been confirmed by several moves. However, this zone has two faces, and in addition to bouncing BTC down as we could see, the opposite scenario can come, which will be a strong impulse for the bulls, especially if we get above this zone, ie $ 62k.
Technical analysis also says:
New current support at $ 50K
Support in the area of $ 42K – $ 43K
Key support in the area of $ 28K – $ 30K
The $ 58,200 to $ 62,000 range is a confirmed reversal zone
