- Bitcoin is currently valued at $48,400, and a potential rise to $50,777 may be anticipated if it successfully closes above $48,200.
- Caution is advised for investors within the range of $50,777 to $52,000, signaling a need for careful consideration.
- When considering spot investments, it’s important to be aware of possible corrections, which are expected before making any decisions in the market.
Analysis of Bitcoin in the medium term.
![](https://sollcrypto.com/wp-content/uploads/2024/02/Screen-Shot-2024-02-11-at-8.08.58-PM.png)
Examining the Bitcoin price chart reveals that Bitcoin is currently positioned at $48,400. Should BTC successfully close daily candles above $48,200, there is potential for it to ascend to $50,777.
Reaching $50,777 would signify a crucial weekly resistance level for Bitcoin. Investors, especially those engaged in futures trading, are advised to exercise caution within the $50,777 – $52,000 range.
In the cryptocurrency market, it’s common to witness corrections and downward movements before considering spot investments. Investing during upward price trends carries inherent risks. If Bitcoin initiates a downward movement from the specified $50,777 – $52,000 resistance range, the initial target would be $44,200.
A closure of daily candles below $44,200 would sustain the downward trajectory, with a subsequent target of $37,600.
Bitcoin’s Probability of a Decline
![](https://sollcrypto.com/wp-content/uploads/2024/02/Screen-Shot-2024-02-11-at-8.10.20-PM.png)
Upon examining the 12-hour technical chart of Bitcoin, short liquidations around the $49,020 region seem to persist. In the event of BTC sustaining its upward trajectory, the initial target is set at $49,020.
Conversely, should the BTC price experience a decline from this level, the analysis identifies the $45,300 – $44,545 range as a potential zone for a healthy correction, prompting a reassessment of spot investments. If Bitcoin’s price descends to the specified yellow support box, it may be a suitable time to consider spot investments in altcoins.
However, the scenario changes if Bitcoin concludes daily candles below the $42,100 mark, signaling a shift from an uptrend to a downtrend. In such a case, it may be prudent to suspend spot investments.