We're in a low-volume area, so there must be movement to the upside or downside of the current 40k psychological support zone (and .618 fib confluence). With low RSI and bullish divergences in early February, this pullback could be recharge that BTC needed before going higher.
If we do go up, we will test the long-term trend line and possibly hit the nPOC at 46.4k.
If we go down, we're likely headed back to 33k. After all, war and interest rate hikes put bearish pressure on markets.
Happy trading.
-melonfarmer
If we do go up, we will test the long-term trend line and possibly hit the nPOC at 46.4k.
If we go down, we're likely headed back to 33k. After all, war and interest rate hikes put bearish pressure on markets.
Happy trading.
-melonfarmer