BTCUSDT: What Should We Expect From Bitcoin?

21 déc. 2021

BTC has been in a critical price development. The way how it is developing it is keeping all the currencies down.
So let's go with an in depth analysis of what we should expect from Bitcoin.

After the price broke the left structure near 64,600 the price made an all time high up to 68,950 and after that the price made a deep pullback.
The question is that the price made only a correction from 09-November-21 up to 04-Dec-21 or all of that was the first impulsive movement before it moves down and test the low again near 32,000?

Actually we are in a broken bullish wave that reached 68,950. From the consolidation where the price is now we can see a "Bullish Flag Pattern" near the bottom of the wave. From here we can see the beginning of the next bullish wave on bitcoin as this is a normal price behaviour if we check the previous price developments.

A very critical point that I am watching and that the price can mave lower again is near 55,530. There we need to be careful as the price needs to take a decision ' Critical Arear 55,530"

If all goes well a break of the price above 55,530 would increase the chances for more upside with targets as below:
After the price will reach the top we need to analyze again.

Targets:
55,530 critical price

58,670
64,300

Thank you and Good Luck!