Based on Technical Analysis
BTC has been going sideways since the ATH on 8th Jan, printing a potential bull pennant after the BTC bullrun.
It's moving between FIB levels from the dump to 28130 and the ATH at 41950. A bear flag broke down a few hours ago leading to a short-term sell-off but got bought up again; the 50% FIB is holding on the 1D.
We expect BTC to move within 32.5k and 39k to continue developing the bull pennant, and price will move in a tightener price range in the next few days.
The levels to watch are 36.7k, 38k and 39k. Any close above 39k may lead to a new BTC bullrun.
In case of more dumps we expect the 32.5k - 33k area should hold.
More importantly, this sideways movement in BTC is leading to a remarkable decrease of the Dominance, making alts be bouncing strongly from their recent lows.
Our personal opinion about BTC
We remain
Bullish for BTC and believe these drops are needed & healthy corrections.
Our next signal
Our next
signal will come
soon. Stay tuned!
