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BTC analysis – the next hours can decide. Where does the price move?

2 min read

BTC continues to grow but still respects the main one resistance at about $ 42,500. However, there has been no sharp rejection at this level and it is therefore appropriate to consider over definitive termination of the sideway structure. Will the price succeed at the next contact?

BTC he directly contacted the resistance at the level of $ 42,500 and this value was respected. However, the sale is not taking place yet and the price sooner stagnates. Although on-chain metrics do not show a change in sentiment to bullish but mostly to neutral, the growing leg is not over yet.

BTC / USD 4H.  Source: TradingView
BTC / USD 4H. Source: TradingView

The price still respects the level of the MA21 indicator. RSI however, it has been showing a slowdown in growth for a long time and there is a negative divergence that started in the overbought phase. The main support we will follow in the case of the bearish leg is level point of control $ 36,770.

BTC is at a key value

If we want to think about breaking through resistance, then price growth must be supported increasing volumes. So far, however, volumes have not grown significantly. In any case, if the price really breaks the resistance in the footsteps, the volumes will certainly increase and higher volatility will also occur.

The coming days and maybe hours will show where the main cryptocurrency will go. Market the price is at key resistance and everyone is waiting for the price to break it. In the long run, it is bold to say that the accumulation zone has ended, but at 4H and below, the price remains above $ 41,000.

Disclaimer: This article is for information purposes only and should not be construed as investment advice.

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.
BlackRock (IBIT), the Grayscale Bitcoin Trust (GBTC), Fidelity (FBTC), Ark Invest/21Shares (ARKB), Bitwise (BITB), Franklin (EZBC), Invesco/Galaxy (BTCO), VanEck (HODL), Valkyrie (BRRR), WisdomTree (BTCW), Hashdex (DEFI)

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