BTC analysis – scenario for the next days, the price is directly on the key export
1 min readBTC is currently still above a key support for the whole bear flag which has not been violated since its inception this January. It is a significant pattern and therefore it can decide at any time whether the price will continue or not support fails and a new one is created corrective leg.
In addition, the market price is traded directly on the point of control, which is the most important and most traded area of the whole bear flag. As the price contacted point of control from top to bottom, this area should serve as a support. For that the coming days will be very important.
BTC holding a support flag. Source: TradingView
BTC will decide soon
The main cryptocurrency still reaches short-term declining lows and highs. The pace of the declining trend is receding and we are directly in the support zone. If the price does not soon reverse, ideally supported by volumes, it will fall below this support. However, the reversal does not occur until the price beats the last maximum at $ 41,000.
If the price exceeds this maximum level, we can talk about a confirmed short-term rising trend with a target of about $ 43,000. However, the price does not signal this scenario yet. As sentiment can change from hour to hour, it is important to familiarize yourself with both scenarios.
