Bitcoin's recent attempts to breach the $44K mark seem to be losing steam, hinting at a possible downturn. The inability to break this key resistance level could signal a shift in market sentiment, leading to a retracement.
Key levels to monitor:
Immediate Resistance: $44K
Potential Downward Targets:
39K
- $35K
If BTC fails to sustain above $43K, we might witness a move towards the
39K
-$35K zone. This range could act as a crucial support area, offering opportunities for accumulation or re-entry for those on the sidelines.
Traders should watch for:
Volume changes as BTC approaches these levels.
Market sentiment indicators that might suggest a shift.
Key technical patterns that could confirm the downward trajectory.
While the broader market context remains bullish with the upcoming ETF decision, short-term movements could be dominated by these technical barriers.
A cautious approach is advised, with a keen eye on how BTC interacts with these pivotal price points.
Key levels to monitor:
Immediate Resistance: $44K
Potential Downward Targets:
39K
- $35K
If BTC fails to sustain above $43K, we might witness a move towards the
39K
-$35K zone. This range could act as a crucial support area, offering opportunities for accumulation or re-entry for those on the sidelines.
Traders should watch for:
Volume changes as BTC approaches these levels.
Market sentiment indicators that might suggest a shift.
Key technical patterns that could confirm the downward trajectory.
While the broader market context remains bullish with the upcoming ETF decision, short-term movements could be dominated by these technical barriers.
A cautious approach is advised, with a keen eye on how BTC interacts with these pivotal price points.
