BTC Update:


The Bears lost the Great Wall (33k), and as we previously mentioned, with this break, the Bears would lose market sentiment. This indeed happened, with 38k breaking more easily than expected.

Now, 38k acts as a key support area. We believe that as long as we stay above this zone, the outlook remains positive, and any dips could present good buying opportunities. The most significant resistance now lies at 44k.

In the 1-hour timeframe, strong local support sits at 40,200-40,700, with the next major support at 38,500.

In the 4-hour timeframe, our major resistance ahead is 44k-44.5k, and the next crucial support is at 38k-38.5k, reinforced by our KEY strong support of 36k-36.5k. Kernel and Tillson indicators have turned red in the 4h timeframe, and similarly in the 1h timeframe, although in 1h we are still hovering above Tillson.

Overall, the Bulls have outperformed expectations and gained in many key areas. We believe that the crypto winter may actually be over.

👉 @signalforallchat