BTC 16th January TA

Hey Guys! Doss.games is back with a short and crisp technical analysis of BTC. This analysis of BTC is done at 7:45 pm IST and on 4H timeframe.

So currently BTC is trading in a resistance channel. Two situations are possible from this point-

1. BTC breaks upward from the resistance channel and reaches a region of $46,300-$47,000
2. BTC breaks downwards from the resistance channel and takes support around the $40,800–$41,100 region

We also should note that “news” plays a big catalyst in the price levels of BTC, any positive/negative can make the BTC price extremely volatile and technical analysis invalid for the time being.

Please also note that this is not financial advise, DYOR before dealing in cryptocurrencies.