Recently bitcoin Upward forecasts were starting to come in. Especially in this period, everyone expects a decline, the market likes to act contrary to what everyone thinks. For this reason, there may be a rise.” After the thought, BTC did what was expected today and made its upward movement.
In our recent articles, we wrote that the target is 42,000 dollars.
With the price climbing up to $ 41,800 as of the moment, the daily increase in BTC has left 12 percent behind.
While Ethereum is also seen to be moving with BTC, it is seen that $ 3000 was tested with an increase of 12 percent.
It does not go unnoticed that the fear and greed index in the market increased to 33 points after a long time.
Current Outlook of Bitcoin
We wrote that Bitcoin broke an important downtrend upwards, but we said that we should still be careful.
In the current situation, it makes the daily closing at $ 41,574. bitcoinWith this closing, it gave very positive signals for the coming days. In the current situation, it is considered important to make a daily closing above the falling trend, while it is seen that the price has returned from the green resistance line for now.
Especially, 40,500 previously acted as a very important support and we saw a Bitcoin that fell to 33,000 dollars when it was broken.
This level, which now acts as a support again, especially needs to be maintained. As this level is maintained and several-day candles closes above it, BTC’s next resistance is seen at $44,000.
However, in the next few days, considering that the economic indicators have not yet given a positive signal, it seems reasonable to invest without forgetting that this rise may be a trap.
On the other hand, if the RSI rises above 70 in the 4-hour period, it signals a possible retracement or accumulation at these levels.