In line with the general market sentiment, the price of BTC continues to move in a roller coaster mood. On Monday, BTC tried for one more time to reach the $95K resistance line, but was rejected, so the price reverted back. The lowest weekly level was $ 82K, where the price touched the MA200 level. For the rest of the week, BTC tried to sustain the $90K level, but without success, so the coin is ending the week around $86K.
The RSI tried to start the road toward the overbought market side, however, it ended the week moving around the 45 level. The moving average of 50 days continues with a modest convergence toward the MA200, but the distance between two lines is still leaving some space for the future cross.
BTC is currently on a tricky road, as per current charts. There is some probability that a modest volatility might continue also during the week ahead. On one side, there is some probability for lower grounds, at least till the $82K. There is also equal probability for the move toward the up side, where the $90K might be tested again. It is also questionable whether the BTC will have strength to test for one more time the $95K in the week ahead.
The RSI tried to start the road toward the overbought market side, however, it ended the week moving around the 45 level. The moving average of 50 days continues with a modest convergence toward the MA200, but the distance between two lines is still leaving some space for the future cross.
BTC is currently on a tricky road, as per current charts. There is some probability that a modest volatility might continue also during the week ahead. On one side, there is some probability for lower grounds, at least till the $82K. There is also equal probability for the move toward the up side, where the $90K might be tested again. It is also questionable whether the BTC will have strength to test for one more time the $95K in the week ahead.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.