BTC charts today 2.24.2021

BTC charts today 2.24.2021

By kesteve | espcryptoit | 24 Feb 2021


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It really looks like the next correction has arrived, actually I've been waiting the correction in March, but here we are again. The charts drawing the same (hopefully) scenario as in January after the 41k ATH. I expect a bounce back somewhere around 55k and then the big red candles are coming. It is hard to tell right now where we find the support line, but within a few days or a week we will see where the bottom line is.

 

On high time frame BTC is still bullish, we don't really have to worry about the end of crypto summer, not yet.1

 

4h chart shows us a strong support line at 45-46k, now if we could break out from 51,5k we could retest a lower high, reaching the current ATH or above isn't likely. If we hit a lower low, it could be around 41-39k, it could be even 35k, but I wouldn't be happy if we couldn't make a higher high after that.44

 

On 1h chart we are fighting with the resistance level at 52k, if the price goes above it, we can gain a few more percents, I would be cautious with the open positions, because on shorter time period we are bearish and I expect price drop in the next 2 weeks.11

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