Bitcoin 4h Short-Term Update + Bullish Target ($48K & Beyond)

11 Jan 2022

Slowly but surely Bitcoin (BTCUSD) is starting to recover.

Here we are looking at the short-term chart, 4h timeframe.

We can notice the classic cup pattern starting to form, this is very common when a bottom/low takes place.

After the cup pattern a bullish jump tends to follow.

We have bears and bulls fighting with EMA50 being the next immediate resistance at $43,195.

This is our last barrier short-term, if EMA50 can be taken out we can look forward to $48,000 and beyond.

Additional details on the chart.
Check the related trade ideas below for previous articles.

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Namaste.