As we look at the $42K price zone we see a lot of confluence in this zone. BTC is currently at a very important price juncture and how it reacts will dictate the direction the market takes in the coming weeks/months. Personally, I'm in the bullish camp and I believe BTC has the steam to continue the bull market, unlike many others believe. I believe this price zone is far more important than many realize and admittedly, failure at this price zone will not be a good sign for the bulls. We'll need to carefully monitor what direction the market takes this week and react accordingly.
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So far everything looks good, we stopped right at the daily 200 moving average. We either pull back for a retest, or we keep pushing higher to the 61.8% fib retrace.
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Target reached, I want to see price hold the $40K support level and make another push up higher.