Bitcoin to $49500

Dec 25, 2021

In the last post it was said that Bitcoin will be considered bearish(and $42,000 will be expected) till we could close above the left shoulder of a Head and Shoulder pattern that formed. The bulls showed up after several failed attempts from the bears to push prices down, and successfully closed price above that level. However, bulls have struggled to reclaim the $53,000 area and price seems to be consolidating. We predict a quick retest of the $49500 area that has served as a resistance twice recently. It is expected that Bitcoin price goes from there and tries to reclaim the $53,000 area afterwards.