Due to the decline and horizontal trend structure in both macro-side indices and micro-side parities last January, investors could not get much efficiency from the market. Bitcoin yesterday It closed the month at $38,466.. This zone coincides with the lower level of the resistance zone on the daily time frame.
With the rejection of this region 3 times, the supply region here has not been broken yet. However, we can see that each step he makes progresses above the previous low.
This shows us that buyers in this region are active. In order for us to see a rise, the above-mentioned resistance zone must be broken by the buyers in a voluminous way, closing above this zone and turning it into a strong support zone.
If this happens, we can see positive progress in February on the altcoins side. With the realization of this positive situation, the levels of 43,500 – 45,800 and 48,900 dollars, which are the important resistance points, can be followed gradually.
In addition, it should not be ignored that the Stochastic RSI indicator, which produces overbought and oversold signals, is at the overbought point in the daily time frame.
Otherwise, the band of $ 36.100 – $ 32,940 is the first support zone for possible pullbacks. In the daily closings below this region, the levels of 31.200 – 29.800 dollars can be followed, respectively.