BTC has not experienced high volatility in the short term and is more or less continuing sideways just above the level main support zone $ 40,000. The last bounce was minimal and despite that BTC stagnates above $ 40,000, we don’t see volumes. It seems that in the long run, the price should not continue the bearish trend.
Until the price will confirm growing trend, it may take several months. In the long run, we are a sideway from achieving ATH. The bottom is likely to occur in a zone around $ 40,000 or, worse, in a zone between $ 30,000 and $ 40,000.
BTC – we are still bullish in the long run
BTC should not fall below $ 30,000 and there is no reason to think about it at the moment. If the price manages to keep support at $ 40,000 in the long run, we’ll probably go to target about $ 52,000 and $ 56,000. However, this move would still be within a long – term sideway structure that is resistant to ATH.
In the short term, therefore, we monitor the position of the next minimum, which must be higher or equal to the level of $ 40,000. Such indecision may persist in the long term as well as in the short term. Dominance is meanwhile a sideway to the sport and its decline could go hand in hand with rising BTC / USD prices.