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Bitcoin is at risk of decline to 75 thousand dollars if support is 83 thousand dollars, then the analysis of the plans



This is a daily technical analysis by Coindsk analyst and omkar Godobile legal technician.

The Bitcoin (BTC) rally has stopped since Sunday, which has raised the risk of a declining shift in the main indicators.

Since Sunday, a mark of $ 86,000 has appeared as a resistance and supply zone, as bulls failed to maintain gains above this level. Film collapse raised a declining reorganization in the main momentum indicators- simple moving averages 50, 100 and 200 hours (SMA). The three averages are one below the other and the south is heading alignment.

SMAS, which lasted 50 and 100 hours, reached its peak and appeared on the right track to produce a declining cross, seeing the previous step below the last. While the price of the coded currency remains higher than the 200 -hour SMA, the imminent bear in the other SMAS indicates that the sellers are looking to reaffirm themselves.

In addition, the MACD daily chart has stopped printing higher straps in a row over the zero line, which reflects the loss of upward momentum to support the idea of ​​potential declining developments in the market.

All this, when he looks at a background heading down 50 and 100 days, calls for caution on the side of the bulls. A step less than 83 thousand dollars, which is the support of the hourly graph, would verify the validity of the Haboodi developments, which may lead to sales of its lowest levels near 75 thousand dollars.

Meanwhile, UTC is required to be closed above $ 86,000 to indicate the continued recovery collection.




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