Technical Analysis – BTC/USD
Key points:
The price of bitcoin fell below the trend line on the 4-hour chart, and now we are waiting for the testing of the support level of $8900.
There are large density applications at $9400-9500, and at support level $8,900, most likely the price will test both levels.
The expected price will move to higher values after testing 0.36 Fib.
After continued growth, the price of bitcoin to the US dollar was adjusted. The MACD signal line on the 4-hour chart is at the intersection. The price has reached the lower boundary of the Bollinger Bands, expect to see a move upward to $9400-9500 to the middle of the corridor and begin moving down to 0.36 Fib at a level below $8900.
It is better to place purchase orders at the level of $8,400-8500 with targets of $9,800, $11170.
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