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BTC analysis – the price respects the resistance of $ 42,000 and aims at this target

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BTC stays at resistant level below $ 42,000 and has not yet finished the current growing trend. So let’s take a look at the current bullish target and prediction for the coming days. The dominance of the main cryptocurrency has meanwhile increased slightly to 41.81%, but continues in the sideway structure.

In the short term the rising trend is not over and the bullish target I’m following is on the surface $ 44,000. But it is the most bullish the scenario I am currently seeing. On the other hand, it is also necessary to monitor support zones in the event that the growing trend ends slowly. Which ones supports are they significant?

BTC analysis - the price respects the resistance of $ 42,000 and aims at this targetBTC at 42,000 resistance. Source: TradingView

BTC under $ 42,000

Significant levels of supports are in the zone $ 39,000 a $ 36,000. Before that, however, it is necessary to monitor the level of growing support for the bear flag, which has been forming since the beginning of 2022. If the price contacts it, we must pay attention to the volumes and especially the place of the rebound. If she fell under this support fast reflection is important.

The price behaved similarly at the last minimum, when it fell below support, but was immediately pulled out within 24 hours. It was no different at the previous lows of this flag. However, if the price falls below support and fails to go back up immediately, it is a prediction that the flag has ended.

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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