📊TECHNICAL ANALYSIS ON 1-HOUR TIMEFRAME
Not long time ago price declined to support 2, which coincided with the support area, and soon broke this level and fell below this zone. Later BTC reached the trend line and started to rise near this line. Firstly price rose higher than support 2, thereby breaking it and then making a correction to the trend line, after which it rebounded and made impulse up to support 1. After the price reached this level, BTC in a short time broke it and rose to the resistance zone, but soon corrected. Also, the price entered to consolidation, in which Bitcoin first fell to support 1 and then started to rise to the resistance zone. After it rose to this zone, BTC at once rebounded down to the trend line. And now price trades very close to this line and I expect that Bitcoin can fall below the trend line and then rebound up to the top part of consolidation, which coincides with the resistance zone. For this case, I set up my target at the 35600 level.
📊QUICK FUNDAMENTAL LOOK
Bitcoin (BTC) is the most prominent cryptocurrency with a tremendous growth potential. Over the years, BTC has also gained significant recognition in the economy, being acknowledged by governments and used as a medium of payment among users. Bitcoin was first defined as a decentralized digital currency in an essay published in 2008 under the identity of Satoshi Nakamoto. It debuted in early 2009, not long afterward.
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