As the price of Bitcoin moves forward after falling to its most recent bottom in the past two months, it is showing a clearer picture of the pattern being formed.
During the last month, the price trends did not go below the support range of 18,900-18,500 dollars, and the market has recognized the price of 18,000 dollars as a floor.
In the midst of the buts and ifs of the macro economic policies of the United States of America and the tightening of monetary conditions, the prices of cryptocurrencies did not leave the lows of the past few months because this market is considered the riskiest market in the world due to the forecast for the start of tough policies and Heavy money has witnessed the outflow of large capitals.
In this month, with the beginning of the announcement of economic statistics for the production and service sectors, there are signs of a better inflation situation, which has caused the recent support in the cryptocurrency market to gain strength again.
On the daily chart of Bitcoin, it can be seen that there is still a bearish movement under the Chef fork tool, this movement has continued without touching the middle line of the fork, which indicates that if the market succeeds in breaking $20,400-$21,000, the trend It is still in a neutral position.
In the event of this failure, the target price range is $22,350-22,730, which obviously leads the price growth to $24,800-25,160 resistance.
In this case, the bearish scenario is only when the $21,000 resistance is not broken and the $18,900-18,500 support is lost, in which case another bearish move is ahead.
During the last month, the price trends did not go below the support range of 18,900-18,500 dollars, and the market has recognized the price of 18,000 dollars as a floor.
In the midst of the buts and ifs of the macro economic policies of the United States of America and the tightening of monetary conditions, the prices of cryptocurrencies did not leave the lows of the past few months because this market is considered the riskiest market in the world due to the forecast for the start of tough policies and Heavy money has witnessed the outflow of large capitals.
In this month, with the beginning of the announcement of economic statistics for the production and service sectors, there are signs of a better inflation situation, which has caused the recent support in the cryptocurrency market to gain strength again.
On the daily chart of Bitcoin, it can be seen that there is still a bearish movement under the Chef fork tool, this movement has continued without touching the middle line of the fork, which indicates that if the market succeeds in breaking $20,400-$21,000, the trend It is still in a neutral position.
In the event of this failure, the target price range is $22,350-22,730, which obviously leads the price growth to $24,800-25,160 resistance.
In this case, the bearish scenario is only when the $21,000 resistance is not broken and the $18,900-18,500 support is lost, in which case another bearish move is ahead.