Despite some optimism about the long-term encryption market, short-term price action is still very frustrating, as the market is still unable to find a strong bottom and then enter a recovery phase, which is currently worrying about the future market.
I thik In the case of breakout, the $ 3508 zones may target areas of $ 3,615.
While, in the case of breaking the bitcoin areas $ 3463 the encrypted currency may target $ 3083 target of the symmetrical triangle classic model.
Support: 3376 - 3252 - 3108
Resistance: 3543 - 3657 - 3807
BTC Is once again approaching the six-week low as selling continues and demand is weak, and the market is still looking for a strong bottom to come into recovery, which is currently worrying about the future of the market.
As we have seen several times, vendors have come back to break these advances. The 20 day exponential moving average, green on the chart is now sloping down, so I think we will continue to move down. I'm not looking for some kind of big collapse, but I think it simply indicates that the market will continue to sell advances. If we break above the 20 day exponential moving average, then the market will test the bearish pattern at the top. After that, we have the $ 4000 level and the 50-day exponential moving average to keep this market below. In the end, this market did not get a lift from the US dollar falling significantly during the Wednesday session, so it's no surprise that we simply can not keep up the gains at all.
Looking at the chart, I can say that the $ 3500 level is providing the resistance now, so with the continued decline every time we reach that area, it indicates that we will probably look towards the $ 3100 level and then the $ 3000 level which of course Will cause a lot of support based on psychological importance. A break below that level is supposed to send this market down further. If that happens, I expect a move towards the $ 2700 level, which is important based on long term charts
Now btc It is trading in a bearish trend in a sub-formation supported by breaking the secondary ascending trend line on the 60-minute interval, and the technical indicators indicate the strength of the current bearish trend.
The index of (IDX) indicates the strength of the current bearish trend.
The SMA 20 is currently bearish and represents a resistance zone.
Momentum Relative Strength 14 is trading in a bearish direction reinforced by the 50-point break
Despite some optimism about the long-term encryption market, short-term price action is still very frustrating, as the market is still unable to find a strong bottom and then enter a recovery phase, which is currently worrying about the future market.
The cycle is pulling down hard on BTC; I believe it'll go to the $2,200 or so level.
Bitcoin continued In the bleeding to break the rising trend line and continued to fall even areas of $ 3460.
I thik In the case of breakout, the $ 3508 zones may target areas of $ 3,615.
While, in the case of breaking the bitcoin areas $ 3463 the encrypted currency may target $ 3083 target of the symmetrical triangle classic model.
Support: 3376 - 3252 - 3108
Resistance: 3543 - 3657 - 3807
BTC Is once again approaching the six-week low as selling continues and demand is weak, and the market is still looking for a strong bottom to come into recovery, which is currently worrying about the future of the market.
I think the sub $3k level is dead ahead.
Patience about buying in this market is important. In the meantime
I recommend this easiest buying indicator:
That graph looks about right in my eyes
As we have seen several times, vendors have come back to break these advances. The 20 day exponential moving average, green on the chart is now sloping down, so I think we will continue to move down. I'm not looking for some kind of big collapse, but I think it simply indicates that the market will continue to sell advances. If we break above the 20 day exponential moving average, then the market will test the bearish pattern at the top. After that, we have the $ 4000 level and the 50-day exponential moving average to keep this market below. In the end, this market did not get a lift from the US dollar falling significantly during the Wednesday session, so it's no surprise that we simply can not keep up the gains at all.
Looking at the chart, I can say that the $ 3500 level is providing the resistance now, so with the continued decline every time we reach that area, it indicates that we will probably look towards the $ 3100 level and then the $ 3000 level which of course Will cause a lot of support based on psychological importance. A break below that level is supposed to send this market down further. If that happens, I expect a move towards the $ 2700 level, which is important based on long term charts
Cycle is pulling down hard on BTC; so, $2,200 is my target:
Good analysis video @haejin
Now btc It is trading in a bearish trend in a sub-formation supported by breaking the secondary ascending trend line on the 60-minute interval, and the technical indicators indicate the strength of the current bearish trend.
The index of (IDX) indicates the strength of the current bearish trend.
The SMA 20 is currently bearish and represents a resistance zone.
Momentum Relative Strength 14 is trading in a bearish direction reinforced by the 50-point break
Nice information. Thanks
Thanks for the update
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thanks for your update. if the falling trend for BTC continues which crypto will come to take the place? this is my analysis request. Much Blessing!!!
Nothing will replace BTC. If BTC falls, ALL coins wil fall too.