zoomarz.com
Bloody week for the digital currency market
Bitcoin also fell in price last night, reaching 12 percent this week. A very important support range has been identified for Bitcoin at the price of 40,500 to 38,270, which if the channel breaks this range, the next channel support will be $ 30,000. The index of fear and greed is in a state of intense fear. Leverage trading volume is still high. More than $ 800 million was invested in the leverage markets yesterday. One minor support was $ 44,000 to $ 43,500, which was lost yesterday. The purple support area mentioned above is the last short-term bitcoin stronghold to return to the top, and if it is lost, the bottom of the bullish channel will be seen in the range of 33,000 to 28,900.
At the moment, it will not be easy for the price to return completely upwards due to the failure of many supports and their becoming resistance. The intersection of the resistors is marked in the range of green lines. But we expect Bitcoin, as usual, to start suffering for a while in the current range. To reverse the trend in 4-hour time, Bitcoin must return above the $ 44,000 range, and to reverse the trend in daily time, it must be above the green lines at 47,200. Because this is the annual resistance range of bitcoins.
To hurt the price and reduce the downtrend, Bitcoin must break at least the uptrend line and fluctuate in the current range for some time, otherwise, increasing sales pressure could even break the $ 40,000 channel support.
zoomarz.com
Bloody week for the digital currency market
Bitcoin also fell in price last night, reaching 12 percent this week. A very important support range has been identified for Bitcoin at the price of 40,500 to 38,270, which if the channel breaks this range, the next channel support will be $ 30,000. The index of fear and greed is in a state of intense fear. Leverage trading volume is still high. More than $ 800 million was invested in the leverage markets yesterday. One minor support was $ 44,000 to $ 43,500, which was lost yesterday. The purple support area mentioned above is the last short-term bitcoin stronghold to return to the top, and if it is lost, the bottom of the bullish channel will be seen in the range of 33,000 to 28,900.
At the moment, it will not be easy for the price to return completely upwards due to the failure of many supports and their becoming resistance. The intersection of the resistors is marked in the range of green lines. But we expect Bitcoin, as usual, to start suffering for a while in the current range. To reverse the trend in 4-hour time, Bitcoin must return above the $ 44,000 range, and to reverse the trend in daily time, it must be above the green lines at 47,200. Because this is the annual resistance range of bitcoins.
To hurt the price and reduce the downtrend, Bitcoin must break at least the uptrend line and fluctuate in the current range for some time, otherwise, increasing sales pressure could even break the $ 40,000 channel support.
zoomarz.com