Trader assesses the likelihood that bitcoin’s price will hold above $39,000

A practicing trader and founder of the Crypto Mentors project, Crypto Mentors Nikita Semov, discusses the current market situation.

Signals pointing to the highest probability of Bitcoin price development continue to appear on the chart. Here are the most likely scenarios for the coin’s movement in the coming days.

Bitcoin approached a key level of $38,220 and drew a responsive response from sellers. Since the $39,000 zone has repeatedly shown intense selling pressure, the main expectation is for Bitcoin to fall. Note that a large amount of liquidity sits below in the range from $36,142 to $35,500.

In the medium term, BTC remains in a downtrend and targets the $28,000 level to seize liquidity. The upward move over the last ten days, in terms of attack angle and growth rate, is more likely corrective in all indicators (volume, price action, delta distribution).

Based on the statistics, the scenario of rising above $39,000 is considered unlikely.

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