BITCOIN - Important Condition Of The Candle

✅Bitcoin has returned from $ 37,000 support, breaking the $ 40,000 level, and is now attacking the significant $ 45,000 resistance. After hovering between $ 39,000 and $ 37,000 for a few days, it finally started moving upwards.

The $ 40,000 level is currently broken, but it is not possible to say with certainty whether this is a real failure or not because a stabilization candle has not yet formed above this range.

If we see a stabilization candlestick near the $ 40,000 level, we can prepare for the next bitcoin ceiling of $ 45,000.
Otherwise, if the price does not stabilize at the current level, there will probably be more falls with the heavy sales of bears. The first support after the price drop is in the range of $ 37,000.

⚠️ If Bitcoin manages to cross $ 45,000 and hold the candle above it for three days, then we can expect a $ 52,000 target.

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Today, while Bitcoin has seen good price growth compared to previous days, the digital currency market fear and greed index has not yet recovered and shows the number 22, which indicates the Extreme Fear of investors in this market. Recent Bitcoin fluctuations have confused many traders.

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Bitcoin dominance in the digital currency market has increased to 43.2% with the recent price growth. The total market cap of cryptocurrencies today has reached $ 1.82 trillion, which is a growth of almost 6% compared to yesterday.

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One of the fundamental reasons for Bitcoin's price growth today is US President Joe Biden's information on the cryptocurrency market. According to the published information, this order facilitates the cryptocurrency market, and the government has a positive view of this market in general.

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Bitcoin’s Correlation with traditional assets (Gold and the S&P 500) just hit a 2-month low last week, dropping along with the NASDAQ Index. This has been due to a steep drop in traditional markets, especially in the US, while crypto markets including BTC, ETH, and Altcoins have remained relatively stable.

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