The last 48 hours have been a better-than-expected BTC performance for me from my previous analysis, as the benchmark shattered several price ceilings to break the $45K top in two days, considerably sooner than I anticipated.
However, the benchmark cryptocurrency has now fallen into correction mode as it drops near the $43K base. That said, I expect bulls to put up a good fight at the $43K support, given the combination of supporting factors around that level, including the daily 50 SMA, the $43K support line, and the prevailing market mood.
We should see a goodish bounce off the $43K support in the near term, followed by a retest of the $45K barrier. Successful clearance of that mark should help BTC snap the $46K pivot top over the coming days.
Meanwhile, my resistance levels are at $44,000, $45,000, and $46,000, and my key support levels are at $43,000, $42,000, and $41,000.
Total Market Capitalization: $1.98 trillion
Bitcoin Market Capitalization: $824.9 billion
Bitcoin Dominance: 41.7%
Market Rank: #1
However, the benchmark cryptocurrency has now fallen into correction mode as it drops near the $43K base. That said, I expect bulls to put up a good fight at the $43K support, given the combination of supporting factors around that level, including the daily 50 SMA, the $43K support line, and the prevailing market mood.
We should see a goodish bounce off the $43K support in the near term, followed by a retest of the $45K barrier. Successful clearance of that mark should help BTC snap the $46K pivot top over the coming days.
Meanwhile, my resistance levels are at $44,000, $45,000, and $46,000, and my key support levels are at $43,000, $42,000, and $41,000.
Total Market Capitalization: $1.98 trillion
Bitcoin Market Capitalization: $824.9 billion
Bitcoin Dominance: 41.7%
Market Rank: #1
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