43K is vital for bulls

11 sty

Morning folks,

So, our 47.35K target has been hit on fake ETF approvement ;) Anyway, right now the major question is about stability of demand. Ambitions and emotions have got a release after ETF approvement and we have to be sure that bulls have sufficient power to keep moving higher.

Because technically market has no problems for upside action - no overbought, no strong resistance levels above - bulls have to prove its ambitions and that bets were not just on ETF approval.

To do this price has to stay in tight consolidation above ~42.80-43K daily support area. That's why for now, we consider only long entry inside this consolidation. If price breaks down 43K - bearish setup will become possible again.

Long term upside target stands around 50-52K.