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BTC Rally Key to Bull Market | WEEKLY ANALYSIS 01.21.2022
February 21, 2022 at 5:00 AM
by NewWave Traders
btc bear.jpg

BTC is at the decision point of whether or not it will rally and give life to the bulls or turn towards the bears. Check out this week's analysis video on YouTube:


Bitcoin is coming off of a correction that is beginning to show signs of reversals. The key question here is not IF BTC will go up; rather, how much it will go up, and will it be enough to give fuel to the bulls to drive it to near all-time highs. There is strong resistance around the 45K and 52K levels that BTc would need to push through to flip this market bullish. On the bearish side, should BTC fall below 32K, that would signal the end of any chances the bulls have to reclaim the market in the near term. Check out this week's videos for areas of interest in trading BTC, and clear invalidations to know where the market is heading.


Silimar to BTC, this rally will determine the near future for ETH. ETH will need to push above 2900 to show strength in the market and show that the previous rally was more than just an A-wave of a larger correction. However, should it get rejected at that area, we can expect the bears to take over and take price to the sub-2000 level. this week's video give clear areas of invalidation for bullish and bearish counts.