BTC analysis – the current structure is bullish, the price goes to $ 50,000
1 min readBTC has confirmed a rising low and continues to move sideways in the short term. This move should be a harbinger continuing growing trend. Meanwhile, dominance is still experiencing a slump that will persist for some time. This will be confirmed even if BTC continues to grow and alts will follow him.
In the short term the price goes to $ 51,000 and remains bullish. The current sideway structure records much higher bullish volumes compared to bearish volumes. In addition, it’s just a matter of testing the previous triangular structure, which it also means bullish signal. Now all you have to do is wait for the last maximum of $ 48,000 to break.
BTC is heading for $ 51,000. Source: TradingViewBTC is heading for $ 51,000
Despite the fact that in the short term there are volumes bullish, so their values are still low in the long run. The current trend after reaching the target can therefore be observed natural correction. In addition, we cannot yet speak of an indication of a breach of more than an annual structure.
In the long run, BTC continues the sideway between $ 29,000 and $ 69,000. Regardless of the current growth pattern, this should be the final flat leg under this long-term movement. Only time will tell if this will really happen. However, once BTC goes out of this structure, it will be a super bullish signal.
