BTC continues to achieve short-term and long-term declining lows and highs and still seems to be looking for a bottom corrections. It will be important to monitor the position of the next short-term low, which should close above $ 33,000. Will the price be successful, or will we also go to the new local minimum?
As we can see from the chart, the price does not indicate a reversal of the trend and even the volumes are not on the side of the bulls. If we fell below $ 33,000, another one the support level is around $ 30,000. There is also the previous long-term minimum. All analyzes are currently dealing with this value.
BTC – lower maximum
If we consider the identification of the bottom of the correction, it was mostly accompanied by the final surrender. It can still happen before the price actually bounces up. We follow the weekly chart the most bearish scenario on the MA 200 which is around $ 20,000 and growing.
Probably the price of BTC is in the final correction phase. However, this does not mean that growth will come immediately. Bullish trend we can only see it calmly in the second quarter. The bearish scenario still prevails and the price shows no signs of reversing the trend.