Further decline or range trend?
Updated
Hello to all members of TradingView and my followers.
As you can see, Bitcoin is currently trading at the bottom of the $19,632 range (which is also resistance).
Even though the 100-hour simple moving average is at the $20,000 level, Bitcoin's efforts to break above the $19,632 level have been unsuccessful.
In general, Bitcoin's movement is under its downward trend line.
In the previous hours, we saw that the price of Bitcoin reached $18,800.
There are two major resistances to Bitcoin right now. The first is the $19,632 level, and the second is the 100-hour simple moving average line I mentioned.
Of course, the downward trend line is also considered a resistance.
As you can see, the green histograms formed on MACD; are tied to the buy signal on the chart. Although the indicator displayed a buy signal, buyers still struggled in the market.
Bollinger Bands portray the price volatility of the asset.
Until the powerful $18,700 support range is broken to the downside, Bitcoin can fluctuate between this range and the $19,800 resistance.
If it breaks, the situation will be different, and the movement towards $17,500 will start.
If it is helpful to you, please like it. If you have a comment, I'll be happy to know. Respectfully.
As you can see, Bitcoin is currently trading at the bottom of the $19,632 range (which is also resistance).
Even though the 100-hour simple moving average is at the $20,000 level, Bitcoin's efforts to break above the $19,632 level have been unsuccessful.
In general, Bitcoin's movement is under its downward trend line.
In the previous hours, we saw that the price of Bitcoin reached $18,800.
There are two major resistances to Bitcoin right now. The first is the $19,632 level, and the second is the 100-hour simple moving average line I mentioned.
Of course, the downward trend line is also considered a resistance.
As you can see, the green histograms formed on MACD; are tied to the buy signal on the chart. Although the indicator displayed a buy signal, buyers still struggled in the market.
Bollinger Bands portray the price volatility of the asset.
Until the powerful $18,700 support range is broken to the downside, Bitcoin can fluctuate between this range and the $19,800 resistance.
If it breaks, the situation will be different, and the movement towards $17,500 will start.
If it is helpful to you, please like it. If you have a comment, I'll be happy to know. Respectfully.
Note
Well, Bitcoin managed to spend 2 hours above the $19,632 resistance.But it is back down again.
If it can rise above it again, we can expect to rise to the resistance of $19,800. Otherwise, the downward trend will continue.
Note
Bitcoin's entry into the static range of 19,500 has been confirmed, and when this static range is broken, the movement towards the target of $21,000 will begin.Note
The bearish scenario is still more likely
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