Current analysis of Bitcoin (BTCUSD) - viewing in the D1 chart
The BITCOIN has shown its weak side since the top formation in spring, especially starting from the beginning of May. Over the past few days, the selling pressure has increased further, so that the world's most famous cryptocurrency corrected again to the price level of USD 30,000. This brand has proven to be an area of support several times in the recent past. If this level is defended again, there could be a rapid upward impulse to around USD 40,000. However, within the established USD 10,000 range, the coin remains in a neutral situation. A breakout above 40,000 USD, on the other hand, would mean immediate follow-up potential of 50,000 USD and higher.
A clear dip below the currently reached mark of USD 30,000, on the other hand, could lead to a further tightening of the correction of up to USD 10,000. A decline to the previous highs of around USD 20,000 at the end of 2020 should not come as a surprise.
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The BITCOIN has shown its weak side since the top formation in spring, especially starting from the beginning of May. Over the past few days, the selling pressure has increased further, so that the world's most famous cryptocurrency corrected again to the price level of USD 30,000. This brand has proven to be an area of support several times in the recent past. If this level is defended again, there could be a rapid upward impulse to around USD 40,000. However, within the established USD 10,000 range, the coin remains in a neutral situation. A breakout above 40,000 USD, on the other hand, would mean immediate follow-up potential of 50,000 USD and higher.
A clear dip below the currently reached mark of USD 30,000, on the other hand, could lead to a further tightening of the correction of up to USD 10,000. A decline to the previous highs of around USD 20,000 at the end of 2020 should not come as a surprise.
If you liked the analysis, please give me a like and follow me to stay up to date. You support my work tremendously!
Whats your opinion?
Please let me know in the comments.