BTCUSD : The market trend is still down.

Hi friends.

No explanation. The chart is clear !!!!

Thanks for your attention.

Comment:

Hello friends.

1. Bitcoin is trapped between the 50 and 100-day moving averages and has now been prevented by MA50 support from falling.

2. The MA50 tangent is currently moving and if the pressure from the sale continues, it will break down and, according to the chart below, will decline to the first strong and strong support 7230, which corresponds to 38.2% Fib. The next key support is 5662.

Thanks for your attention.

Comment:

Hello friends.

1. The 50% Fibonacci support line is not very strong and if the price stabilizes below 8498 within a few hours, it is likely to reach the 38.2% Fibonacci (7230) support line.
2- If it returns above 8498, it will probably rise to 9000.

Thanks for your attention.

Comment:

Look how beautiful the Fibonacci support line touched 38.2% ($ 7230).

Comment:

The market has no climbing power. I predict that the 7230 support will break and the price reaches the 5660 support line.

Comment:

Fortunately or unfortunately, Bit couldn't break the strong 7230 support line.

Bit of growth needs to push itself above the 8500 but given the lack of strong buyers support so far,
The bit seems to be unable to rise at the moment and if the 7230 support fails, we will see the bit decrease to 5700.