BTC - 6h. Bticoin correction is not over yet. $26200

25 янв. 2021 г.

The week of trading on the BTC market did not end with a confident victory for buyers. The price of BTC updated the local low of the previous weekly candle. Trading volumes during the sellers' attacks were quite high and it is safe to say that the correction of the BTC price ended in our opinion early.

Yes, sellers failed to break through the $30700-31300 range. The re-attack of this range took place already at reduced volumes. However, it is difficult for buyers to regain control of the range of $33,400-34,000. In the previous idea, we based our analysis around these liquid areas:


If buyers are unable to take control of the $33,400-34,000 within a few days, the continuation of the correction in the BTC market will look like a strong downward impulse.

After breaking the $33,400-34,000 range, buyers will secure a growth prospect of up to $35,500. In this case, the correction of the BTC price will be quite smooth and will give a chance to other coins to continue to shoot up, as is the case with UNI.

Our main target, which we wrote about in our global idea remains at $26200

Let's see if it will be enough for buyers to consolidate above $33400-34000 at least for a while.

An alternative scenario- the continuation of growth and renewal of the historical maximum is considered only after fixing the price above $35,500
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We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
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