peacefuljustin

Bitcoin Holding Strong $30,000 Support

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
It is nice to see Bitcoin flirting around the $30,000 support zone . This to me in a macro perspective is very healthy for Bitcoin as it indicates that this market is becoming more resilient. The more we trade through that zone the stronger the support becomes. We broke out of the symmetrical triangle, briefly traded at $28,800 and now we're back in the $32,000 range.

We are still oversold on weekly and monthly on the Relative Strength Index ( RSI ) for Bitcoin . When price reaches these extreme levels, a reversal is always possible so always bear that in mind and be cautious.

In a worse case scenario we go down to $20,000. But you also have digital asset managers such as Grayscale Investments heavily accumulating Bitcoin at these current prices so it's difficult to tell. However, The overall trend is still positive for Bitcoin .

Cheers Everybody. Much Peace and Love.
Comment: Grayscale Investments Bitcoin Accumulation:
https://decrypt.co/55011/grayscale-pulls...

Comments

Grayscale turns the wheel :-D
+2 Reply
peacefuljustin bitcoinkid-xyz
@bitcoinkid-xyz, Oh yea haha and that's just Grayscale. Skybridge Capital is another one that's been loading up at these prices as well.
Reply
We're still holding this support zone.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out