When I'm 26...

24 Jan 2022

Morning folks,

So, it seems that our suggestion on rising of the bearish dynamic pressure on Thursday last week was correct... Right now a lot of things to discuss in relation to BTC, so if you have a time, it would be better if you watch our daily video on FPA site. Anyway, shortly speaking, we do not see any bullish signs right now and suggest that reaching of 26-28K area seems very probable within few weeks. Current stop is due reaching of daily oversold area but not because of reaching our targets. Other words speaking - it was not the drop to the targets, it was just the drop down. Once market takes some rest, it probably keep going lower.

Thus, right now we do not see any good background for investing. Bears could try to catch some pullbacks to intraday resistance areas- - 37.5K seems as most suitable. Analysis of the longer-term charts looks a bit scaring, as it suggests solid upside pullback at some moment, highly likely that it happens right from 26K area, supposedly back to 40-44K area, but then we should get another downside extension. Still, this is long-term picture that could change many times an we return back to discuss of these issues when time will come.