Main Fact: BTC from $69000 to $37000 is bearish
Fact 1: $32900 is the lowest price since $69k
Fact 2: Confirmation is missing
Fact 3: Head & Shoulder Pattern (Bearish)
Fact 4 : Hidden Price Trend: 1st quarter lowest $28850 -> Mid lowest $28805 -> Waiting for $28xxx
Fact 5: Strong resistance is showing in the chart from $48,000
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Fact 6 (Update Feb 3, 2002) : Bitcoin broke the $39.5k major support on Jan 21st,
Fact 7: BTC got rejected by the $39k region yesterday
Fact 8: BTC next major support $35k as seen in chart
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Personal view: Ever since BTC broke the old $39.5k major support on Jan 21st, it was turned into a major resistance as seen in a 1-Day Chart. In fact, BTC got rejected at $39.2k yesterday as stated previously we could see a bull to $39k or above. Right now, the price is about $2k down from yesterday at $37k and the next support we ought to pay attention at $35k. One thing to keep in mind is that even bitcoin price got rejected yesterday, we still have to respect the fact $39200 was the highest since the last drop to $32900 (fact 1) which means there is a chance the bull trap is not over yet, BTC price can turn around at anytime to retest $39200 once again or may even take a step further to $42k-$43k before a real drop that comes after. At this point, my view remains the same as before, we will see BTC at the $28k stop despite how far this bull trap goes.
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The potential crypto on my list: Presearch (If you do not know Presearch, please check out my previous post)
Please use my referral link to sign up for Presearch, we both will receive 25 PRE Token bonus
https://presearch.org/signup?rid=1892143
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The potential "2nd Binance" on my list: Kucoin Token (Do check out my previous post for some potential targets)
Kucoin exchange if you would like to get some KCS and PRE token:
https://www.kucoin.com/land/register/r/1h2ba1N
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Knowing the potential targets ahead of time would at least saving ones from having potential loss. Comparing the current price $37,500 to the first post that was published on Jan. 6th when bitcoin was at $43,000. That is a $5,500 indifference for 1 BTC. Do not pay more than you should!!!
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Channel support is highly appreciated:
BTC: 3BssHqtftLAsAwDtN4QVMhJP25chWmT7Tf
Eth: 0x36AeeaF52F08c5e87cf2ac7B94C090d8d89Ba37F
