BTC/USD 4h chart
As expected from the last price analysis, 41k worked as strong support, and even RSI has dropped below 30 due to high selling pleasure. Both were a good signal that we’re about to bounce from there.
However, shortly we aren’t out of danger yet! Above us we still have a high volume per price traded what could keep us below 46.400$.
The expectation for the next few days is, that price might be trapped in a range of drawn descending channel and support line at 41.100$. If we manage to break out of the channel consider placing some long positions if you haven’t yet. Another great deal would be to enter after we close daily above 50k
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