BTC Technical Analysis: The Final Target Is $56,000

The new trading week in the BTC market began with positive news for buyers. The BTC price broke the global trend line, which sellers kept since November 2021. The depressive downward trend has finally broken and the chance of continuing the movement in the global consolidation of $30,000-$65,000 has increased as much as possible. The BTC price easily broke the liquidity range of $40,500-$42,000. From this range, everyone expected a price rebound, at least for local correction. But, even such buyers were not given the opportunity to organize. https://www.tradingview.com/x/ILoks3wP/ Abnormally strong growth in the BTC market can be explained by the presence of a large number of sellers. It is thanks to the open short positions of sellers who aggressively sold even at local lows that the BTC price has revived. Unfortunately, it is on the liquidation of sellers’ deposits and their stop orders that the Bitcoin price is now growing irretrievably. However, will it be so easy for buyers to pass the $46,000 range? In the weekly timeframes, we see that in the range of $46,000-$48,000, the price has consolidated in 5 weeks. Therefore, we doubt that the uncorrected BTC growth will continue. However, a good buying area would be the $40,500-$42,000 range. Keeping this range, buyers will prove on a large timeframe that the fall wave is over and then we are waiting for a strength test of $56,000. Technical Analysis Of BTC On The Daily Timefra...