Bitcoin (BTC) Bounces After Rejection From $44,200 Resistance - Aliens: AI Crypto News & Markets Updates

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Bitcoin (BTC) Bounces After Rejection From $44,200 Resistance

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BeInCrypto

Fri, Jan 14, 2022

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Bitcoin (BTC) was rejected by the $44,200 resistance area on Jan 13 and is currently trying to find support.

After the rejection, BTC dropped and has now returned to the $42,100 area, which previously acted as resistance.

There are two main possibilities for the long-term wave count, both of which indicate that BTC will bounce in the short-term.

The first one suggests that BTC Has been correcting inside a W-X-Y (red) corrective pattern since reaching an all-time high price of $69,000 on Nov 10.

In this possibility, the price will bounce in the short-term towards $45,000 – $48,000, completing the B sub-wave before another drop would complete the entire correction.

The alternate count also indicates that BTC has been correction since the all-time high price on Nov 10.

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