BTC Future Pathway Analysis
The Bitcoin pullback has now taken a deeper turn and we have fallen back to 40k which is a key Psychological level and potential support.
A break lower here would open up $38 and 34k which is the recent lows of this year.
The market correlation with Crypto and traditional stock risk appetite is getting closer and a reversal in US stock markets should help Bitcoin get support.
Range trading is a third option that BTC can enter into with an orbit around 40k but such a outcome is abnormal for Bitcoin.
Buyers want to see a break above $40600 in the short term and then likely we test $42000.
A break lower here would open up $38 and 34k which is the recent lows of this year.
The market correlation with Crypto and traditional stock risk appetite is getting closer and a reversal in US stock markets should help Bitcoin get support.
Range trading is a third option that BTC can enter into with an orbit around 40k but such a outcome is abnormal for Bitcoin.
Buyers want to see a break above $40600 in the short term and then likely we test $42000.
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