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

arsalaan (75)in Tron Fan Club • 2 months ago (edited)

Hello everyone and welcome to everyone at Tron Fan Club. To our delight, the market has seen some positive signs over the past few weeks. Throughout the market, there have been uptrends. But a correction and some consolidation became inevitable. And it is no different for BTC as well. So, we saw BTC fluctuate a lot under the strong resistance zone. Today we will look at the price movements of BTC and reflect on where it could go next.

Last week, the King of Cryptocurrencies, BTC was hovering around 64000$ level. BTC was on uptrend for weeks. But these last few weeks were a bit different. In these weeks, due to BTC's price correction. It fell to 60200$, which is clearly a strong support zone. It bounced quickly at that level.

After getting rejected at the 65500$ zone, BTC lost the support level below at 62700$. So, BTC fell quickly and came down to 60200$. However, it bounced back in an instant. These moves created a new bearish trendline overtime. After bouncing back at the support level, it eventually started going up. Currently, it clear that BTC needs to hold onto the support level of 62700$ zone that it regained recently. It needs to break 63200$. It is now at 62900$. This is ultimately a 1.8% lose in value over a time span of seven days.

All Screenshots are taken from Coingecko

No words from this article should be taken as financial advice.