Bitcoin price analysis: possible scenarios in BTC


Bitcoin recovered after dropping as low as $ 44K on Tuesday and is finding buyers over $ 50,000 today. Could the cryptocurrency reach a new peak in the short term? What signs does technical analysis give?

Bitcoin: BTC / USDT

The Daily Oblique Support level and the Resistance-Support Transformation are in the same region on our chart, which rose a little more after the 54000 level, which we have followed for a long time, and declined with a strong selling pressure. In the medium term, 42037 should be followed as a strong support level and if this level is broken, if the candle closes below it, a downtrend will begin in the medium term. The strong resistance zone at 53179 is very important for our chart, which started the upward movement with corporate purchases in the short term. If it makes a new peak, the rise can continue up to the level of 66647.