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

Hello everyone and welcome to everyone at Tron Fan Club. After creating a new all-time high in March 2024, Bitcoin has been consolidating for a long time. Hence, we witnessed downtrend in the last months with some exceptions. This week, we saw BTC fluctuate a lot above the strong support 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 downtrend for weeks. This move continued in this week also. In this weeks, BTC fluctuated a lot above the strong support zone of 58000$. At the started of the week, BTC started falling following the bearish trendline (shown above). Due to fall-out, BTC went down to the 58000$ level, which is clearly a strong support zone.

After the fall, BTC quickly bounced at the support level. After getting bounced at the 58000$ zone, BTC gained momentum and so started going up. Thus, it broke through the bearish trendline and reached 61k. Currently, it clear that BTC needs to hold onto the support level of 58000$ zone. It also needs to break 65000$. It is now at 58390$. This is ultimately a 9% lose in value over a time span of seven days.

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All Screenshots are taken from Coingecko

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

Thank You for reading.

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