BTC analysis on D1 frame.
Updated
The price broke out bullishly when it hit the $39,000 support zone. Looking for peak B of wave ABC, will the next target be $44,000? At the 44,000 price range, price action will determine whether the trend continues to increase or decrease to deeper support areas.
Comment: Price will go down to deeper areas after buying pressure declines. There is a phenomenon of profit taking so that BTC adjusts to test the support areas below.
The decline period will be in February and March 2024
Note
On the D1 and 3D frames, buyers are showing weakness at the $44,000 area. Need further confirmation
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