Bitcoin Local Resistance Update (1H Timeframe) + Altcoins

٣١ يناير ٢٠٢٢

The "local resistance" we spotted for Bitcoin yesterday on the 1H timeframe remains valid.

We have a bearish bias short-term as long as this resistance remains in place.

If Bitcoin goes sideways/consolidates... As long as Bitcoin goes sideways the Altcoins can have some time to recover.
When Bitcoin drops there is always an initial reaction from the Altcoins (Altcoins vs Bitcoin) where they also drop but they later recover faster even than Bitcoin does.

You can find the support levels and additional details on the chart.

Note: Please keep in mind that this is a short-term analysis. The charts are always changing and we need to be prepared for all scenarios before we decide to trade.

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Thanks a lot for your amazing and continued support.

Namaste.