BTC Technical Analysis: Buyers Keep $42,000

The trading week in the BTC market ended not as positively as it began. Buyers managed to break the global trend line from November 2021. However, the BTC price did not begin its active growth. After testing the $46,100 mark, buyers touched on the local consolidation, in which the BTC price stayed for 5 weeks. Thus, from this consolidation, sellers launched a counterattack and closed the weekly candle with a large pin-down. Trading volumes during the breakdown of the trend line and the range of $42,000 were average. And it is too early to talk about a confident breakdown of the trend line and complete dominance of buyers. https://www.tradingview.com/x/lVnaH6RJ/ Moreover, the weekly candle closed in the range of 42,000 – at the critical point of the downward trend. Therefore, last trading week on the BTC market gave us information that sellers are present in the market, but how strong the market is still unknown. Technical analysis Of BTC On The Daily Timeframe https://www.tradingview.com/x/4EjxyJs1/ Analyzing the movement of the BTC price on the daily timeframe, you can see the unfinished action of buyers. This timeframe clearly shows that after the breakdown of the trend line and the $42,000 mark, the correction began. However, sellers still do not have the strength to take control of the $42,000 range. This can be seen in the trading volumes, which with each daily candle is getting smaller. When the price approaches an impor...