The hourly chart displays a local range bound movement defined by key pivot levels between 36.9k USD and 37.9k USD. As always, a strong breakout outside these levels should have short-term implications unfold in the direction of the breakout.
Supply zone is defined by Supply block of previous highs in 38.3-38.7k USD. Because this zone is nearly located to 37.9k USD pivot resistance, it is fair to assume 37.9-38.7k USD to be of the biggest strength for bears. Hence, it would make little sense, if you are a short-term trader, to open long positions right into the supply given above.
The resistances defined by the price action of bitcoin are given as follows:
43000
38750
37657
Supply zone is defined by Supply block of previous highs in 38.3-38.7k USD. Because this zone is nearly located to 37.9k USD pivot resistance, it is fair to assume 37.9-38.7k USD to be of the biggest strength for bears. Hence, it would make little sense, if you are a short-term trader, to open long positions right into the supply given above.
The resistances defined by the price action of bitcoin are given as follows:
43000
38750
37657
Last 2 months are an example of a panic-driven forced selling market.Margin calls, stops triggered & pundits tripping over each other to "out-bear" their fellow pundits with projections of how much much lower the market is headed. The reversal can be just as quick.
DXY will roll back down like a bitch and btc will start regaining grounds.
MicroStrategy has purchased an additional 660 bitcoins for ~$25.0 million in cash at an average price of ~$37,865 per #bitcoin. As of 1/31/22 we #hodl ~125,051 bitcoins acquired for ~$3.78 billion at an average price of ~$30,200 per bitcoin. $MSTR
https://t.co/bF6VImC0Qy
https://t.co/bF6VImC0Qy
MicroStrategy
MicroStrategy Acquires Additional 660 Bitcoins
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