Bitcoin Update, 16/01
Since the low on the January 10th, Bitcoin rallied to around 44.4k. To find out levels of support for a continuation of the uptrend, I used volume profile (it represents the volume traded at each price). We are bouncing in the high volume node (or HVN) in the 43.4-42.5 zone and we've been retesting the low volume node (between 42.5 and 42.1) 3 times.
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To keep the uptrend, we should break soon the 43.5 level and flip it to support, and then break the 44.4 resistance.
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In a bearish scenario, we will likely go below the low volume node and consolidate.
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To keep the uptrend, we should break soon the 43.5 level and flip it to support, and then break the 44.4 resistance.
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In a bearish scenario, we will likely go below the low volume node and consolidate.
Feragatname
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