When Will Bitcoin Start To Recover? 2022 Targets

16 בדצמ׳ 2021

Let's look at this question together shall we?

When will Bitcoin recover?

Here we have the daily timeframe chart with a clear downtrend starting after 10-Nov.

We have basically straight down since this date.

Now, we've reached support, two mains scenarios can play-out.

(1) The support level is tested and fails, Bitcoin continues lower for a bit longer.

(2) The support level holds and a reversal starts to take form.

- The support level here in question stands at $46,000 to $47,000, which is in between MA200 and EMA300.
- We also have the long lower wick on 4-Dec. that hit $41,967 as support.
- EMA50 Weekly stands around $44,700.

So staying above $42,000 is very important for the bulls.

Short-term we have a downtrend (purple lines).
We have some bearish signals... But very soon things can change and we see Bitcoin go up!

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Namaste.