02.12.21 Technical analysis of BTC / USD – another failure in resistance

Bitcoin (BTC) fought for several days near the resistance, which is around $ 61,000. Unfortunately, the fight ended in failure. So far, at least according to close daylight, it looks like that, which is a great pity. Bitcoin had the opportunity to break through that correction structure and continue the growth wave.

Current situation at 1D BTC / USD

As the daily chart shows, we can watch Bitcoin attack resistance repeatedly. At the same time, the upper edge of the correction structure was tested. However, it was rejected several times. We know this thanks to the appearance of individual candles. Especially Wednesday’s candle is quite bearish because it has a very small body and a very long upper wick. This means that supply completely absorbed demand.

We will see how it closes today’s candles, because there is quite an initiative in buying a decline. So, despite previous setbacks, we can’t go back to $ 52,500. So to our long-watched one S/R level, where it is significant supportní confluence. But as long as we stay within that falling wedge, we’ll go down if we can’t break.

In conclusion

Today was very short, which is due to the fact that the evening will be stream, where we really analyze the market. So now I have given a brief overview of what has happened in the market. Big things are now happening in the financial markets that certainly deserve our attention.

ATTENTION: No data in the article is an investment board. The analysis does not try to predict future price developments. It serves exclusively as an educational text on how to approach the market mentally. Before you invest, do your own research and analysis, you always trade at your own risk. The kryptomagazin.cz team strongly recommends individual risk considerations!

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