BTC – “45500 a Key Resistance”

1-Hour Analysis:

Big Picture: Bullish sentiment is decreasing as BTC fails to hold onto the 44k mark. BTC has to get over 45500 and stay there for the rest of the day to regain its momentum. As a result, 46.6k will be opened first, followed by 48k. These choppy conditions are expected to continue as long as we remain between 45500 and 40500.

On Upside The first level of resistance is around 43500, followed by 44100-44400. Bulls must maintain a strong hold above these levels in order to take out the major hurdle at 45500, which needs be cleared in order to pave the way for more excitement into 46.6k and then 48k.

On the Downside primary level of support for the day is found between 43 and 42.8k. On the hourly time-frame, this region remains a pivot support that must hold to prevent more decline. If this level is breached, the next level of support will be at 42600, followed by 41800, and finally 40400.