Expectation is for Bitcoin to go sideways for a while between 30,000 and 32,600$
Price has lost the major support (now resistance at 38300).
Despite the rebound at 30,000 (which is a strong round number where Buyers can arise).
The 28,000 remains as the next proper Technical support and it could be checked sooner or later...most likely a bit later though since we see the price will most likely go sideways for a while.
What can save Bitcoin?
News..good news.
We had some of those today with El Salvador buying some more BTC but mainly with ''ARK Invest’s Cathie Wood Says Crypto Nearing End of Bear Market, Predicts Explosion in Blockchain Technology'': dailyhodl.com/2022/0...ockchain-technology/
Cathy is a serious, well known opinion leader and her statement is good news but probably not at the best timing as a rebound over 38k is unlikely for the next weeks....unless off course the CPI Inflation data tomorrow can play it's role. That would be a time to be bullish but again: 38,300 is a HUGE resistance for now.
One Love,
the FXPROFESSOR
Price has lost the major support (now resistance at 38300).
Despite the rebound at 30,000 (which is a strong round number where Buyers can arise).
The 28,000 remains as the next proper Technical support and it could be checked sooner or later...most likely a bit later though since we see the price will most likely go sideways for a while.
What can save Bitcoin?
News..good news.
We had some of those today with El Salvador buying some more BTC but mainly with ''ARK Invest’s Cathie Wood Says Crypto Nearing End of Bear Market, Predicts Explosion in Blockchain Technology'': dailyhodl.com/2022/0...ockchain-technology/
Cathy is a serious, well known opinion leader and her statement is good news but probably not at the best timing as a rebound over 38k is unlikely for the next weeks....unless off course the CPI Inflation data tomorrow can play it's role. That would be a time to be bullish but again: 38,300 is a HUGE resistance for now.
One Love,
the FXPROFESSOR
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