🔥 Bitcoin Facing Resistance

Two days ago I made an analysis on the short-term price movement of Bitcoin. I foresaw a bullish move towards 48.5K, and eventually a push towards 50k.

It appears that Bitcoin is facing strong resistance at the 48.5k level, leading to two consecutive red days in a row now (assuming today will end up red).

The main area to watch for in the coming days is the Break Out Zone, ranging from 47k - 47.5k. As long as BTC stays above this area, I'm bullish.

On the other hand, the bears could take over and push the price back towards 44k, but I need proper confirmation for that.

Main target in the near term is again 48.5k.

Happy trading!