- Bitcoin successfully hits the $43.6K liquidity pool, as forecasted in the recent report.
- The MA20 (Moving Average) is providing strong support, indicating a positive trend.
- The main target for Bitcoin remains set at $47-48K, contingent on MA20’s stability.
In a recent development closely aligning with predictions from last Sunday’s report, Bitcoin has successfully hit the liquidity pool at the $43,600 region. This movement is particularly noteworthy as it demonstrates the cryptocurrency’s resilience and adherence to forecasted trends.
#Bitcoin hit the liquidity pool at $43.600 region that was mentioned in last Sunday report. You can clearly see how MA20 is holding very well and this is exactly what I wanted to see. A liquidity grab to the upside
Main target of 47 – 48k remains same as long MA20 is friend 🤝 pic.twitter.com/iu2iUipiUn
— Doctor Profit 🇨🇭 (@DrProfitCrypto) December 20, 2023
A key factor in this development is the performance of the Moving Average 20 (MA20), which has been providing substantial support. The MA20 is a commonly used technical indicator in cryptocurrency trading that helps investors understand market trends. Its strong performance in this instance is a clear indicator of market confidence and a bullish sentiment among investors.
The attainment of the $43.6K liquidity pool marks a significant milestone for Bitcoin, as it aligns with the analytical predictions and reinforces the credibility of technical analysis in cryptocurrency trading. This achievement has also paved the way for Bitcoin to aim for its next target in the $47,000 to $48,000 range.
The continued strength of Bitcoin above the MA20 is a critical factor for reaching this next target. As long as the MA20 continues to act as a reliable support level, the likelihood of Bitcoin hitting its projected target remains high. This scenario is particularly encouraging for investors and traders who rely on technical analysis to make informed decisions.
It’s important to note that while technical indicators like the MA20 offer valuable insights, the cryptocurrency market is known for its volatility. Investors and traders should approach these predictions with caution, considering other market factors and conducting thorough research before making investment decisions.
Bitcoin’s movement towards the $47-48K target is a development that will be closely watched by the cryptocurrency community. If this trend continues, it could signify a strong period for Bitcoin, reinforcing its position as the leading digital currency in the market.
