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While Bitcoin was dumping and the crypto market was in hysteria, a lot of our readers were able to remain calm understanding exactly what was playing out in the crypto market and how to take advantage of it.
And the reason why is because we talked in detail about that likely bearish scenario playing out, what to watch out for, as well as the key levels to targets.
Well, that $44,287 support region we talked about in Bitcoin Hits $54k Target. What Next $60k or Crash? held and stoped the Bitcoin sell-off!
Bitcoin has already started to rally back up, recovering some of the losses it made earlier this week, but it is important you watch these coming levels for any likely resistance.
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Key Levels To Watch
The first resistance is the base of that ascending channel Bitcoin was trading in for a while back. The Bitcoin price has been struggling to break through and close above it all through today.
If it fails, we can expect to see a strong price rejection from that region and a likely sell-off back down to the $44,287 price region.
However, if the Bitcoin price manages to break and close back into the rising channel, there is a very high probability that we might see a price rally back up to the top of the channel or even as high as the previous ATH.
Final Verdict!
Wait for the price to decide where exactly it wants to go, right now it is still consolidating at very key resistance. On the Bitcoin 15min chart, we can see that consolidation already forming a range Bitcoin is trading in.
To take advantage of this Bitcoin trade setup, you can sign up using this link to get up to $200 after your first deposit.
We also created a video below where we talked more in-depth about the patterns developing on the Bitcoin chat as well as key fundamental factors that might affect the Bitcoin price in the coming days.
To gain more information on how to partake in this coming Bitcoin Bull run and trade this cryptocurrency, you can read my How To Trade Bitcoin Guide. You can also check my top list of Best Bitcoin Exchanges To Trade With
