Bitcoin Price Will be Resisted by the Middle Line of Bollinger Bands

in Project HOPE • last month

Bitcoin price touched the bottom line of Bollinger Bands in weekly chart. It will be resisted by the middle line of Bollinger Bands. After going down the middle line of Bollinger Bands, It became as a resistance. It is getting ready to resist Bitcoin price. The Middle line of Bollinger Bands is at 64K USD and It will descrease in next weeks. Bitcoin price will be under pressure of this resistance.

Here you can see weekly chart of Bitcoin. I circled the similarity between 2022 and now. Bitcoin should break up this resistance. If not, It will be under pressure for long time..

e1.PNG

Here you can see monthly chart of Bitcoin. Bitcoin price is below 8-month moving average. It is the signal of trend. Bitcoin should close above this moveing average. If not, It will take long time to go up above this average.. The middle line of Bollinger Bands will work as support on monthly chart . It is at 42K in monthly chart. So, Bitcoin price stuck into the middle line of weekly chart and monthly chart. Bitcoin price will be traded between 64K and 42K.

e2.PNG

We may see Bitcoin price between 60-45K USD. It may be great level to pick up before bullish season.

We will see..

#crypto #palnet #krsuccess #analysis #trading #bitcoin #projecthope
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     last month 

    Thank you, friend!
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       last month 

      Congratulations, your post has been upvoted by @upex with a 0.42% upvote. We invite you to continue producing quality content and join our Discord community here. Visit https://botsteem.com to utilize usefull and productive automations #bottosteem #upex

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         last month 

        With the way things are really looking at right now, I guess we might really be in for a whole long period of been dip or what do you actually think

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           last month 

          Very good analysis, after this descent there have been many expectations about it. See you later, have a great week.

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