🔥 BTC Potential Reversal Area: Will It Be Enough?

4 мар. 2022 г.Recently I made an analysis on BTC. In this analysis I wrote that we were very extended after a massive bullish move, and that a correction was likely to occur.

As of today, we've reached my initial area of support. If there's going to be a reversal, it will happen in the coming 48 hours. Wait for a strong bullish candle to bring us back above 41K, ideally 42k.

However, I'm not sure if it will be enough. The Ukrainian situation is getting worse with the day, which is obviously bad news for the markets. In my view there's a decent possibility for BTC to simply fall through $40. In that case, the bearish target would be around 37k. Let's hope this area will hold.

Happy trading!