Since the end of July, Bitcoin has been making really nice moves to the upside. We have cleared a very important level 42K which held Bitcoin back significantly since the end of May 2021.
We have to ask ourselves, where is the most probable area that Bitcoin may find support. It is clear that one of the areas we can look to buy is the aforementioned 42K level. We have the ascending trendline as well as the structure supporting 42K level for a reversal.
If we break below 42K level, we may see prices such as 40K and even 36K before we see some sort of reversal.
For the meantime, monitor the 42K level and watch for bullish price action.
We have to ask ourselves, where is the most probable area that Bitcoin may find support. It is clear that one of the areas we can look to buy is the aforementioned 42K level. We have the ascending trendline as well as the structure supporting 42K level for a reversal.
If we break below 42K level, we may see prices such as 40K and even 36K before we see some sort of reversal.
For the meantime, monitor the 42K level and watch for bullish price action.