It’s still far too early to call it, but it is starting to look like up and to the right for crypto and a continuation of the bull market as we approach the halving in April.
The sell the news event after the announcement of the approval of several Spot Bitcoin ETFs certainly did cause a substantial downturn for bitcoin and for the crypto market in general. However, the 21% decrease in the $BTC price was seen by some as probably not substantial enough.
The bullish scenario
Source: Coingecko/Trading View
That being said, $BTC is currently trying to break out of the downward trend line from that ETF announcement top, and the resistance at just over $43,000 could be pierced through and held above this time.
The next target would then likely be $44,300, with a potential assault on the yearly high of $49,000 above this. It’s just that the question remains whether $BTC has enough buying pressure to come in for this to become a reality?
The downside scenario
Source: Coingecko/Trading View
We współpracy z: https://cryptodaily.co.uk/2024/02/up-and-to-the-right-generally-for-crypto
