1: Bitcoin support levels - $15600 and $14800 strong Support (buyers position to buy Bitcoin ). 2: Bitcoin resistance - $16,000 and $16,600 strong resistance (sellers available to sell Bitcoin ).
BTC has faced the brunt of many industry leaders or significant platforms going bust this year. From Terra’s implosion to FTX’s bankruptcy, the industry seems shaken from a psychological perspective. As investors, an unbiased look reveals that the macro bottom is just one 20% crash away. This forecast takes a fresh look at significant levels and anticipates other scenarios that may evolve for Bitcoin price.
——————————————————————— Analysis - BTC Support is at $15,600 and resistance is at $16,000. $15,600 has acted as strong support level once again. Trade carefully and manage your risk according to mentioned support and resistance levels.
BTC closed its daily candle red at $15,781.
Looking at 1 hour timeframe, BTC is getting resistance from 20 EMA as it has been rejected three times as observed from price action since $16,600. High volume is required to break this resistance and regain $16,000 support level again.