Pivot point: 46000
The preferred scenario: Entering long positions at the highest levels of $46000, targeting the $49,000 levels as an initial price target.
Alternative scenario: Entering short positions below the $46,000 levels, targeting the $43,700 levels as a second price target.
Commentary: Bitcoin is still maintaining the general bullish trend through the ascending price channel, to open trading today, Saturday, at the 46000 levels, after it ended yesterday's trading at 47500 dollars, Where the price is expected to witness consolidation at the $46000 levels, with the emergence of purchasing power, and then to complete the current rise and target the $49,000 levels as an initial price target, especially in light of the price consolidation above the moving averages (50-100), which supports Positive outlook for bitcoin trading in the short term.
