Bitcoin seems quite optimistic to fly to the moon to the major resistance area at 65K which is expected to occur around the end of June 2022. However, the important thing to watch out for is the possibility that a very impulsive downward trend could occur first towards the major support at 29K in the near future in early March 2022. This can be technically analyzed where in the last 14 months Bitcoin has had a large consolidation structure between 29K and 65K with about 100 days round cycles. The very critical area for Bitcoin is located in the long term support 29K, where Bitcoin will question its fate whether it is able to pull back up or even free-fall crash.
Investment idea: If you have added your current Bitcoins investment in the 40Ks position, it is actually quite good and just monitors it. And if around the beginning of March 2022 Bitcoin turns out that Bitcoin will decline to 26K, then it shouldn't be an excessive worry because there is a greater probability for Bitcoin to go to 65K. But if you could be patient waiting Bitcoin close to its critical area of 26K then it could be the best hotspot to add your investment in Bitcoins.
Please take a look at the following BTC/USD chart as the reference for my technical analysis of structural price action, which is quite simple but very logical. The chart is taken from Tradingview.com on February 17th, 2022 with my user name, hidy_exostones.
