#BTCUSDT 4H
After reaching the price of $49,000 on January 11, Bitcoin re-entered the downward phase and within two weeks reached the price of $38,600 on January 23 and corrected the price by about 20%. The yellow trend line will cause price compression.
The price is now 42,800 dollars and if it can break the trend line and resistance of 43,000 dollars and stabilize, it will reach the next resistances and has the ability to grow up to 44,900 dollars.
But since the volume of transactions has gradually decreased, it is possible that it will enter the downward phase again, and the upcoming supports of 42,300 and 41,800 are of great importance. The 39700 area which is right on our 78 Fibo is very important because below this area we will have a strong trend reversal.
Technical analyst: Amir Hassan Salek
After reaching the price of $49,000 on January 11, Bitcoin re-entered the downward phase and within two weeks reached the price of $38,600 on January 23 and corrected the price by about 20%. The yellow trend line will cause price compression.
The price is now 42,800 dollars and if it can break the trend line and resistance of 43,000 dollars and stabilize, it will reach the next resistances and has the ability to grow up to 44,900 dollars.
But since the volume of transactions has gradually decreased, it is possible that it will enter the downward phase again, and the upcoming supports of 42,300 and 41,800 are of great importance. The 39700 area which is right on our 78 Fibo is very important because below this area we will have a strong trend reversal.
Technical analyst: Amir Hassan Salek