The possibility of further growth or entering a corrective wave?

18 Jan 2023

Bitcoin is in the short-term bullish channel, and we can still see higher tops and bottoms in the 1-hour timeframe. But these higher ceilings are associated with long shadows, which increase the likelihood of a strong negative reaction. The potential for the price to hit the resistance range of $22,135 to $22,800 has increased. Because the current price is not far from this resistance. As long as a higher ceiling and floor are observed in the 1-hour timeframe, there is a possibility of further growth in the price of Bitcoin, of course, with great caution. But if the support of the bottom of the channel is broken in the range of $20,720 to $20,840, the price of Bitcoin will enter a corrective wave.

19 Jan 2023

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