Moving Charts: BTC Value Per Coin Analysis | 10% To @tron-fan-club

arsalaan (75)in Tron Fan Club • 9 months ago

Hello everyone and welcome to everyone at Tron Fan Club. With the recent movements from Bitcoin, it has puzzled everyone. The volatility was at peak last week. Let's take a look at the King of Cryptocurrencies, Bitcoin's performance in the last seven days.

The week started with BTC hovering around the resistance of 37600$. After trying to get above the line, BTC failed to do so. By getting rejected, BTC fell to 36700$, which is a strong support level. So, it quickly bounced off from that level.

With giant green candles, it soon reached the resistance of 38300$. BTC could not break the resistance instantly. Instead, it hovered below that level for a while qnd gathered strength. Then, BTC tried to break the resistance again.

After failing the second time, BTC consolidated for a while. Then it, again, made the anticipated move. This time BTC successfully achieved its target. Although breaking that resistance, BTC failed to break the next resistance of 39000$. BTC needs to hold onto the bullish trendline and break the next resistance level of 39000$ with a successful retest. If BTC can break the resistance at 39000$, there will be the massive 40k$ resistance ahead of it. However, it seems more likely that we may visit 38k again. BTC is up 2.84% over the last seven days.

All Screenshots are taken from Binance

Nobody knows what's coming next. We may fluctuate between the confirmed support level and resistance for a while, which are 36500$ and 39000$ respectively. The news from outside world may direct BTC to where it would go next.

Market is very volatile right now as it has always been. So, if you are investing or trading, be always cautious. No words from this article should be taken as financial advice.