Bitcoin support :$47k
Bitcoin Resistance:$51k
If bitcoin breaks support at $47k, we will see more losses, therefore this support is very important. If bitcoin can break the resistance at $51k and stabilize it, it will be a positive event and we will see good results.
So it was broken so called the Bitcoin support :$47k and BTC touched $46,749. Should be expecting more looses?
To be honest in an ideal situations may be this kinda prediction works but in current volatile market it does not seem to work.
As per long term analysis, though currently BTC is passing through correction phase but Bullish trend is still in tact. We are ein the middle of Bull Run and it will complete when BTC hits $250,000.