Bitcoin at the most important support level ~42,000
It is no secret anymore, Bitcoin has arrived at the largest and crucial support level of February, ~42,000
It has already bounced off several times from here, and the optimistic will hope it will bounce off again for a hit at that crucial resistance at ~45,000
Yet, we need to understand that the range we're looking at is starting at ~30,000 and that means that there is a price level there where perhaps bears want to touch before they will allow bulls to kick it hard.
Ultimately, this is a traditional game of Tug of War, and the long term winners will as always be the bulls. Temporarily however, the bears will run the show.
It has already bounced off several times from here, and the optimistic will hope it will bounce off again for a hit at that crucial resistance at ~45,000
Yet, we need to understand that the range we're looking at is starting at ~30,000 and that means that there is a price level there where perhaps bears want to touch before they will allow bulls to kick it hard.
Ultimately, this is a traditional game of Tug of War, and the long term winners will as always be the bulls. Temporarily however, the bears will run the show.
Penafian
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