Analyst: Bitcoin & # 39; Critical Macro Support Transition & # 39; Nears”

Bitcoin is fast approaching a critical crossroads of macro support, according to a crypto analyst.

Critical Transition Of Macro Support
As the Bitcoin analyst noted on Twitter, the cryptocurrency is approaching a crossroads with its macro support curve.

BTC macro support curve / source: TheCryptoCactus
The chart above shows how Bitcoin moves relative to the macro support curve.

Now, below is another chart showing the two main BTC price December.

Bitcoin two interest price December / source: TheCryptoCactus
The striking feature in the chart is the blades made by BTC in the lower band of December 1.

December 2 is the highest bitcoin price (ATH) of all time. It’s currently worth about $ 19,000. It can be the main macro support line.

If the price falls below the recent ath December, this could be a sign that the market is on a downward trend and that the price will continue to fall.

Related Readings / Net Bitcoin Exchange Flows Negative, Will The Bull Run Come?

However, as the wicks show, buyers are still trying to accumulate and maintain range. As long as investors continue to withstand the pressure, the range will not be lost.

Now there are two scenarios that could happen with bitcoin. The diagram below will help show them.

Where could the BTC Sunday go next? / Source: TheCryptoCactus
The first scenario is that, amid all the FUD and print (such as Binance), buyers continue to withstand the print and maintain that December. Where the price gradually rises to the next December.

Another way around this December is if bitcoin falls below the 30k dollar mark and that price point becomes a resistance line.

The final scenario would mean the price would drop a lot and it would be hard to come back from it. And as mentioned earlier, if BTC crosses the last support line of $ 19k, the bear market can begin.

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