BTCUSD(Weekly Analysis)
The world’s largest cryptocurrency has maintained its positive momentum and accumulated approximately 36% returns in January.
BTC has been in a Bear trap, it had hit its low of 15.5K and took support at the resistance trendline as shown in the chart. After consolidating there for 2 months, BTC shot up to the level of 24K and is currently retracing and trading at 22.9K.
The support to the lower side is present at 22K and 21K while it may face resistance at 24K and
25K respectively.
BTC has been in a Bear trap, it had hit its low of 15.5K and took support at the resistance trendline as shown in the chart. After consolidating there for 2 months, BTC shot up to the level of 24K and is currently retracing and trading at 22.9K.
The support to the lower side is present at 22K and 21K while it may face resistance at 24K and
25K respectively.
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