As you saw, Bitcoin crashed on 27th December. However, the settled price area had very little liquidity. This caused Bitcoin to crash again on 5th January, where it dragged the price down to the sub $40,000 level. After wicking down to the higher $39,000 area, Bitcoin seems to have absorbed back the required liquidity for a bounce back up. I expect this pair to retest resistance areas at $45,450, $47,390, and $49,370.
Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.