In the latest update on $BTC , which looked at the prospects for the next year, it was assumed that growth would continue at least until the New Year, the goals were 42325 and 48640. As is already known: we completed the second goal, after which a rapid downward movement began and an equally rapid upward rebound. Let's look at the prospects for the next few weeks - months.
As you can see on the chart, there is movement in the correctional channel. This is the second time we are trying to test it, if we pass, then growth to 57380 is quite likely. It is also worth watching the MA100 (daily chart), this mark has often been an important level of support and resistance.
There are divergences on the weekly chart (more than one on the daily chart). In the medium and long term this will play a role, but in the short term growth continues.
The cryptocurrency market is closely related to the stock market, where sentiment is now extremely bullish and there should be some kind of serious detente.
Hedge funds now have the highest leverage in the stock market in 5 years.
Long Managers in US Stock Futures
At $42,500, give or take, more than 1 million were traded $BTC , this price range could become an important support level
Conclusion: Once again we are testing the level 48640, where the upper limit of the correction channel is also located. If it is broken, we can reach 57380. For now, we are waiting for a downward impulse and overcoming the levels of 42500 and 41400 (MA 100).
