BTC analysis – the price still maintains short-term support. Are we at the bottom?

BTC continues in the short term in the sideway structure and eventually managed to maintain support levels. However, the reversal of the trend is still not confirmed and the continuation of the corrective structure is also at stake. What is needed for confirmation of trend change and where are the additional supports if the correction continues?

BTC formed a reverse pattern 123 bottom formation and then tested the minimum at points 1 and 3. For a short time the price fell below, but in the end the body of the candle closed on the same export. The price thus continues in the sideway structure, which can be a stepping stone before continuing growth.

BTC is a short-term sideway

If we want to think about reversing the trend, then the price must exceed point 2 at the level of $ 52,000 and at the same time overcome the resistance from local maximum correction. In this case, the price will be in the confirmed growing leg. However, for now no signal.

Next support zones are located in a zone around $ 41,000. However, up to $ 43,500, there are historically enough transactions and the largest the gap is just between $ 43,500 and $ 41,000, where the price has absolutely no support. It still holds true that the current correction is normal in terms of length and strength.

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Margharet Tess

Editor, Developer at Cryptheory Labs

I have been active in the cryptocurrency world for over 6 years, during which I have written countless articles about this sector. What fascinates me most about cryptocurrencies is their technological aspect and the problems they aim to solve. In the past three years, I have ventured into app development and am currently working on a larger project called P2E Buzzer. Stay tuned for the surprise. 🙂 My previous experiences: Business2Community.com, TradingPlatforms.com

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