CRYPTOSCARFACE

After a healthy correction, Bitcoin continues to grow again

BINANCE:BTCUSDT   Bitcoin / TetherUS
Bitcoin faced many challenges last week, so let's look at the current market situation.

Since our last analysis, we have witnessed several significant moves on Bitcoin . Bitcoin was able to overcome two significant resistances in one day, at $ 18.5K and $ 19K. At first, it looked really promising for the new ATH , but tremendous pressure sent Bitcoin from a measured $ 19484 high (binance) back in one day to a very important $ 16k support.

However, this correction was necessary because even BTC cannot grow indefinitely and almost all time frames reported high overbought in terms of RSI .

But what was significant is the fact that Bitcoin managed to keep the support at $ 16K and bounced off without any problems and again beat $ 17.5K where it created another temporary support. At present, therefore, it looks favorable for Bitcoin again, but it still has a big test ahead of it in the area of ​​strong resistance of $ 18.5K, where it is currently located.


Technical analysis:
Current support at $ 17.5K
Very important support at $ 15.7K - $ 16K and $ 14K
Strong resistance at $ 18.5K
Psychological resistance at $ 19K

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