BTC after 9% growth created a lower local maximum and continues in the sideway structure. This structure has been going on for 6 days, but it is only part of a longer-term bull flag. The correction structure is thus still current, although after its closing, the price should overcome the resistance of this flag. So where are the next major supports and resistances?
BTC does not confirm 123 bottom formation and failed to beat $ 45,150, in contrast, the price falls and creates a sideway structure. The nearest support is at $ 41,000, but the price may create a minimum sooner. However, if we do not keep $ 41,000, the next support is the support flag at about $ 38,000.
BTC is in a sideway structure
If we consider on the other side above growing trend, the price must face the key resistance at about $ 45,150, where the previous maximum is, but also the flag resistance. However, we urgently need growing volumes to break through this area. However, they are still missing, so it is more likely that the price will continue to flag in the coming days.
The structure in which we find ourselves is quite similar to that of September 7-12. However, is this zone final support for flag, not yet confirmed. RSI also indicates identical movements compared to this previous sideway movement. The indicator converges with the price chart.