[Bitcoin] When is Bitcoin going to check $37K?

#crack #bitcoin #binance #Daily

- It looks like Bitcoin has turned to a bearish trend after continuing failure to break out the $42k resistance.

- During the bear trend, after failing to support the $39530.45 support line, it is converted into resistance and the bearish trend is in progress again.

- If you look at the 'widening pattern' of lowering lows and raising highs, you should also consider the possibility of a rebound since the lows were lowered.

- If a rebound occurs at $37k-$37.7k, where the lower orange bull trend channel is located, it is possible to buy aggressively, but keep in mind the possibility of a further decline to confirm the $35071 support.

- The $35071.42 is a support line for the closing price of the daily peak formed at the end of January. In the larger view, it was formed by an inflection section of $34.2k-$34.6k, and is a very important support area as it is also the area where the lower end of the long-term bull trend channel is located.

- In the event of a decline towards $35071.42, keeping the $34322.28 low is important for further bull trend.

- If support is successful in the $37k-$37.7k support zone and rebounds, we recommend that you respond by checking whether the $39530.45 resistance is broken or not. If the $39530.45 resistance is not broken, it is highly likely that a bear trend will appear for the continued downward break of the $37k support area.