1. Bitcoin
2. Caution: Investors should be wary in the $50,777 – $52,000 range.
3. Spot Investing: Corrections expected before considering spot investments.
Bitcoin is trading at $48,400 and may rise to $50,777 if it closes above $48,200. However, caution is advised in the range of $50,777 – $52,000. Corrections are common in the crypto market, so careful consideration is necessary before spot investments.
Medium Term BTC Analysis
3-Day BTC/USD Price Chart
When examining the Bitcoin price chart, Bitcoin is currently trading at $48,400. If BTC closes daily candles above $48,200, it may rise to $50,777.
Reaching $50,777 would mark a critical weekly resistance range for Bitcoin. Investors, particularly in futures trading, should exercise caution in the $50,777 – $52,000 range.
In the cryptocurrency market, corrections and downward movements are typically expected before spot investments are made. Investing while prices are rising carries risks. If Bitcoin initiates a downward movement from the specified $50,777 – $52,000 resistance range, the first target would be $44,200.
Closing daily candles below $44,200 would continue the downward movement with a target of $37,600.
Bitcoin Drop Probances
12-Hour BTC/USD Price Chart
When we look at the 12-hour technical chart of Bitcoin, short liquidations around the $49,020 region appear to be intact. If BTC continues its upward movement, the first target would be $49,020.
However, if the BTC price initiates a downward movement from this region, the analysis highlights the $45,300 – $44,545 range as a potential area for a healthy correction and reevaluation of spot investments. If the Bitcoin price falls to the specified yellow support box, spot investments in altcoins may be considered.
However, if Bitcoin closes daily candles below the $42,100 level, it will switch the uptrend to a downtrend. Therefore, stopping spot investments may be necessary.
