Bitcoin technical analysis
The king of cryptocurrencies showed a good price performance during the past days and grew nearly 20%. In the daily time frame, Bitcoin is approaching the long-term resistance zone of $32,000 and has been fluctuating between the price range of $30Kto
31K
in the past 7 days.
In the continuation of the upward trend, if the trading range area is broken to the top of the important resistance area of $32K dollars, the way to reach the resistance of $40K will be easy. The RSI indicator is in the +70 region, which indicates oversaturation.
The second scenario for Bitcoin is to move to the bottom of the short-term support area of $30,000 and if it breaks, it will reach the important resistance area of $26,600.
Major resistances: $32,000 and $40,000
Major support: $30,000 and $26,600
NFA
The king of cryptocurrencies showed a good price performance during the past days and grew nearly 20%. In the daily time frame, Bitcoin is approaching the long-term resistance zone of $32,000 and has been fluctuating between the price range of $30Kto
31K
in the past 7 days. In the continuation of the upward trend, if the trading range area is broken to the top of the important resistance area of $32K dollars, the way to reach the resistance of $40K will be easy. The RSI indicator is in the +70 region, which indicates oversaturation.
The second scenario for Bitcoin is to move to the bottom of the short-term support area of $30,000 and if it breaks, it will reach the important resistance area of $26,600.
Major resistances: $32,000 and $40,000
Major support: $30,000 and $26,600
NFA