The initial sell-off after the FED's revelation propelled Bitcoin towards my buying area. There is a high volatility candle. Such candles tend to be fine supports as presented in my previous analysis when I first suggested this area in early December.
Is it still valid though? I converted my Paxos Gold (PAXG) back to Bitcoin. So yes, I believe the bulls are likely to pick a fight here. If they intend to make a stand, this is the most logical point. Then, there is 30 000$ which is the previous volatility candle's low that could have been traded in the same way.
There are macroeconomic risks but there were some before too. So I think this is a moderate risk higher-than-moderate reward play.
Is it still valid though? I converted my Paxos Gold (PAXG) back to Bitcoin. So yes, I believe the bulls are likely to pick a fight here. If they intend to make a stand, this is the most logical point. Then, there is 30 000$ which is the previous volatility candle's low that could have been traded in the same way.
There are macroeconomic risks but there were some before too. So I think this is a moderate risk higher-than-moderate reward play.
