The crypto money market has made its investors sweat for a week. The price of BTC, which fell to the level of $ 39600, caused the whole market to turn red.
While the losses in some altcoins have increased up to 50 percent in the last few weeks, the positive atmosphere in the last few days helped the market to recover.
After the decline it experienced on January 5, BTC, which rose to $ 44,000 after the inflation data in the USA today, allowed the market to breathe.
When we look at the 4-hour chart, it is seen that the danger has not completely passed yet. Especially, the $ 40,500 levels have turned into an important support in BTC, while a few levels stand out as resistance.
Especially the downtrend drawn in blue on the chart is very important for BTC. It would not be entirely correct to say that “danger has passed” without a closing above this level. In order for us to say “BTC has entered an uptrend” again, the blue trend must be broken to the upside.
The MA100 level, which is also an important resistance level, passes through the $45200 levels. If this level is broken, it is very likely that the blue resistance will be broken as well.
After the blue line, the most important level is the green zone, which has served as support many times before. Although this level is seen as a tough resistance to break on the first try, if it is broken, it could be the start of a good rally.
Especially in these times when the fear and greed index is “extreme fear”, when we examine other in-chain data, we can say that the upward movements are close. However, the interest rate decisions from the FED will cause the market to react downwards.
In summary; Investors who missed the $40,500 support we mentioned earlier, can wait for the blue area to break and buy more risk-free and with six stops. Investors with goods in their hands can choose to stop in both BTC and altcoins in 4-hour closings below $ 40,500.
*Not investment advice.