BITCOIN UPDATE :-Looking at the daily chart, the price has been consolidating in a tight range between $19,500 and $20,500 over the past few days, showing little intent for a significant move in any direction. The $20K support area seems to be holding the price for now.
If a bullish rebound is to happen, the 50-day and 100-day moving average lines around $23K and the $24K resistance level would be key areas to watch for as they can initiate a bearish continuation.
On the other hand, a breakdown from the $17K-$20K area could prove disastrous for the market, as, in this case, a rapid decline towards $15K and beyond would be probable. This would prolong the bear market significantly as bottom formation and accumulations take months at the end stage of bear markets.
Hello dear traders, we here new so we ask you to support our ideas with your LIKE and COMMENT, also be free to ask any question in the comments, and we will try to answer for all, thank you, guys.
This is not a piece of financial advice. All investment made by me is at my own risk and I am held responsible for my own profit and losses. So, do your own research before investing in this trade.
Sorry for my English it is not my native language.
Hit the like button if you like it and share your charts in the comments section.
Thank you
If a bullish rebound is to happen, the 50-day and 100-day moving average lines around $23K and the $24K resistance level would be key areas to watch for as they can initiate a bearish continuation.
On the other hand, a breakdown from the $17K-$20K area could prove disastrous for the market, as, in this case, a rapid decline towards $15K and beyond would be probable. This would prolong the bear market significantly as bottom formation and accumulations take months at the end stage of bear markets.
Hello dear traders, we here new so we ask you to support our ideas with your LIKE and COMMENT, also be free to ask any question in the comments, and we will try to answer for all, thank you, guys.
This is not a piece of financial advice. All investment made by me is at my own risk and I am held responsible for my own profit and losses. So, do your own research before investing in this trade.
Sorry for my English it is not my native language.
Hit the like button if you like it and share your charts in the comments section.
Thank you
