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

arsalaan (75)in Tron Fan Club • last year

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.

With a slow start, the week soon turned out to be full of actions. We started by hovering just under the 26200$ region. There was little no almost no movement until 29 August. After that day, everything changed.

With the hot news of Grayscale winning lawsuit against the SEC, it was obvious that Bitcoin get momentum. But what happened couldn't be anticipated by anybody. It broke through he resistance level of 26200$ like butter. Then BTC went straight up to 28150$. But the resistance at that level was very much strong. On the other hand, BTC didn't complete the retest. So it got rejected, badly.

After the rejection, BTC started to fall very fast. There was not any other attempt to break the resistance. It came down to 27200$ level and hovered around it for a while. But rejection was really bad. And this type of pump and dump situation is never good. So BTC lost that support also.

Losing the support at 27200$, the fall was very sharp. It came down to 26200$ and even lost that support soon enough. But it is good that BTC bounced from 25300$ level. If it can break the bearish trendline shown above, there are some hopes. Bitcoin is currently down 0.8% from where it was a week ago.

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 25000$ and 28000$ 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.