Yesterday it looked like Bitcoin had enough momentum to push towards $ 51,100. That price point has continually been outlined as the next major target / resistance level above 50k. Well, yesterday it was not reached and the rebound above 50k stopped at 50.512. The price then fell below 50k again in the broader US market close.
BTC has turned down the 50,000 on its first short / medium-term rates, currently hitting a low of 47600. That doesn't mean we've hit a high for now, but we could probably swing between $ 46,000 and $ 48,500 up to 72 hours before ours. next move.
The expected move is a second test of our resistance of 50,000 which should bring enough bullish volume to overcome it. If the price does not exceed 50,500 with medium-term confirmation in the next 3-5 days, we will likely re-test 42,000 before further upside.
BTC is always hovering above the 50 and 200 moving averages. The Fear and Greed index is at 73. The Dominance at 42.23 and this should push the altcoins. SELL orders at 52% and BUY at 48%.
I am long on ADA / USDT at 2.759 with target 2.91 3.11 and 3.27 with stop loss at 2.55.
I am attaching my levels for intraday trading:
Chart from tradingview.com
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