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BTC analysis – the price has created a maximum and is ready to continue growing

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BTC declined in the short term and reached a local maximum. This is exactly what the current trend needed for the indicators to stabilize. However, this decline was so slight that did not affect the current trend. Let’s look at other potential targets and levels of resistance and support.

Currently the price BTC trades at about $ 43,700 at the time of writing. Local maximum was created at $ 45,500. Of course, it is possible that the price will still fall slightly support is at $ 40,000 and this is the most bearish scenario in the short term.

Bitcoin declined slightlyBTC declined slightly. Source: TradingView

BTC declined slightly

On the other hand, we can consider continuing the trend, because the RSI also fell sharply into the neutral zone. After a short-term correction, resp. price stagnation is likely will be price to continue the rising trend. The next zone to which the price goes is just that resistance from $ 46,500 to $ 49,000.

The two strongest resistant zones are located at nearby levels $ 47,500 a $ 57,500. It is the area around $ 47,500 that can be the zone where a long-term local maximum will be created for this very reason. So the price remains bullish long-term and short-term and the current decline is healthy.

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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