Mid-day trend down
Updated
From the point of view of buyers, if the key level of 73977.84 is broken, the upward movement will continue up to the range of 77581.15-82164.78.
From the seller's point of view, if the key level of 73977.84 is not broken, we expect to see another encounter in the medium term in the form of resistance to the support of 60730.35.
Note: If the key support of 60,730.35 is broken, we will see the start of a downtrend to the 50,592.03 support area.
Trading signal: confirmation of supply range 71554.35 first profit level: 68363.66 second profit level: 66026.29
From the seller's point of view, if the key level of 73977.84 is not broken, we expect to see another encounter in the medium term in the form of resistance to the support of 60730.35.
Note: If the key support of 60,730.35 is broken, we will see the start of a downtrend to the 50,592.03 support area.
Trading signal: confirmation of supply range 71554.35 first profit level: 68363.66 second profit level: 66026.29
Note
According to the previous statements, the price has not been able to break the resistance of 71554.3 and has reacted back to the demand range of 69039.17. If this demand range is broken, the price can have a downward trend until the price of 65000.0 in the medium termTrade closed: target reached
The price reached the first profit level 68363.6Note
The price broke the demand range of 69000.0 in a short period and is moving to the next level of 66026.2 and it is expected that the price will continue its downward trend in the medium term until the range of 65000.0.Trade closed: target reached
The price reached the second profit level of 66026.2Note
As previously expected, Bitcoin price is approaching the 65,000.0 demand zone as the price declines.Note: This range is saturated by sellers, we have to wait for the price reaction to this range, it is expected that if the sellers weaken, the price will have a relative return in terms of supply to the supply range of 66500.0-67000.0. From the buyers' point of view, if this relative supply range is broken, the price could start an uptrend to the 69000.0-69500.0 supply range.
Note
As mentioned earlier, from the buyers' point of view, it is expected that the price will form a price floor and move upwards with the reduction of sellers in the demand area of 65000.0.Supply range: 69000.0-69500.0
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