$BTC hits an overnight low of $42,744 and now trades near support at $43,500 as interest rate concerns take a toll on the global financial market.
by filbfilb, co-founder of trading suite DecenTrader, who noted that “Since 2019, multiple selloffs at all-time highs on the NASDAQ have resulted in sharp selloffs which saw BTC also correct at the same time.”“What followed was an inverse head and shoulders bullish reversal, confirmed by testing the 50 DMA, and ATH on both legacy and BTC; a possible scenario ahead.”
the following chart looking at the price action for BTC when a bounce on the price oscillator occurs.“April 2012 price oscillator bounce, then a bull run. March 2020 price oscillator bounce, then a bull run. February 2022 price oscillator bounce... I’ll [leave it to] you to conclude.”A breakout to $57,000 or a pullback to $36,000
“Currently at an important breaker. If we hold this, all good, seems ready for another leg to $57,000. If we don't, then I'm seeing a test around $36,000.”
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