Yesterday I made an analysis on BTC where I stated that BTC has successfully formed a higher-low and that the weekly uptrend was confirmed. Within hours my initial target area was reached, congratulations if you took the trade.

After such a massive move, it’s often the case that assets need some time to catch their breath. This in good in the long-term since it allows trading indicators (like RSI ) to reset and give investors confidence to step in the market.

In my view, we could see a move all the way to $41k-$40k. This is not even too far-fetched in current macro economic market conditions. As long as we close daily candles above this area I’m bullish .

I’d advise patient investors to start looking for potential entries around the indicated support area to catch the bounce. However, keep a close eye on the macro-economic picture.

Happy trading!