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BTC analysis – another rising long-term low, the price is heading for this target

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BTC made growing leg that lasts from a minimum to point of control $ 39,000 and is just testing the level first resistance. In the short term, therefore, we remain bullish and also from the long term. Meanwhile, the dominance of the main cryptocurrency continues in a sideway movement and is currently at 41.67%.

In the short term, we are still monitoring targets $ 42,000 and $ 44,000. The $ 42,000 level is a local checkpoint with high volumes during the flag, and the $ 44,000 level represents the upper limit of high volumes. Should growth be denied, it is possible that we will look again at support flags.

Bitcoin in a growing trendBTC in a growing trend. Source: TradingView

BTC on the rise

The positive is that during all the reflections from support were recorded on the graph growing bull volumes. Overall, during the bear flag, volumes during the mines prevailed. At present, the price is still in the sideway structure above support and we are waiting for the last maximum to be broken, which is directly at the market price.

As there was no rejection, we can assume that the price will eventually succeed. The flag in which the award is located has been current since the beginning of the year and is a long-term pattern. When the price breaks through one of these trends, it’s about long-term signal and this will determine the direction of BTC in the long run.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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