Latest News

Is the bounce over in Bitcoin?

0

Bitcoin is trading around $42,500 after bouncing as high as $44,367 after the $39,550 low. At that point we noted that a bounce towards $45,000 was justified and wanted, as such a bounce could form a lower high and provide momentum for the next leg lower. We continue to expect more downside for Bitcoin.

Red line -resistance trend line

Bitcoin is in a bearish short-term trend. Price is making lower lows and lower highs. As long as price is below the red resistance trend line we remain pessimistic and expect Bitcoin price to make new lower lows. Bulls need to break above $45,000 in order to hope for the creation of an important low at $39,550. Until then, bears are in control of the short-term trend.

The material has been provided by InstaForex Company – www.instaforex.com

Gold bulls need to break above $1,830 in order to get a new bullish signal.

Previous article

Trading signals for EUR/USD on January 17 – 18, 2022: sell below 1.1400 (3/8)

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in Latest News