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BTC Analysis – Price goes to $ 47,000. Can succeed without a test of support?

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BTC continues to stagnate around $ 44,000 and the last rejection of resistance was not accompanied by large bear volumes. So the trend has not changed in the short term and seems set to continue. Where is the next zone resistance and support?

Resistance zone at interval from $ 46,500 to $ 49,000 is still relevant and is one of the two main resistance zones on Bitcoin. Another is then at around $ 57,000. As we can see, the price still has room for short-term growth and even the RSI indicator has cooled, which provides an opportunity to create more bull leg also in the short term.

Bitcoin is heading into the resistance zoneBTC is heading into the resistance zone. Source: TradingView

BTC is heading into the resistance zone

The price of BTC is in the long run in a flat structure, which should be in the final leg and end this pattern. Only time will tell if this will really be the case. This structure, which has been going on for over a year, will be the strongest support zone in case BTC goes to the price discovery zone.

In the short term, we follow the closest support $ 40,000. However, this level is not only significant in the short term, but also in the long term. In principle, however, it is not necessary for BTC to have to test this support. However, it will be important to create in the long run higher local minimum compared to the previous one.

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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