BTC - High sell-off pressure!
Hello to all members of TradingView and my followers.
The sell-off we have seen in the market in the past few hours has broken the support of $ 28,960 to $ 27,860.
This level is becoming a resistance, and a negative reaction can accompany the return of the price to this range. Also, the dynamic support drawn on the chart has become resistant.
The rectangular pattern in which the bitcoin was inserted is broken downwards.
So in terms of classical analysis, the price could drop at least as much as the width of the rectangular pattern, from $ 25,000 to $ 25,700.
The selling pressure on bitcoin miners could push prices lower.
If it is helpful to you, please like it. If you have a comment, I'll be happy to know.
Respectfully.
The sell-off we have seen in the market in the past few hours has broken the support of $ 28,960 to $ 27,860.
This level is becoming a resistance, and a negative reaction can accompany the return of the price to this range. Also, the dynamic support drawn on the chart has become resistant.
The rectangular pattern in which the bitcoin was inserted is broken downwards.
So in terms of classical analysis, the price could drop at least as much as the width of the rectangular pattern, from $ 25,000 to $ 25,700.
The selling pressure on bitcoin miners could push prices lower.
If it is helpful to you, please like it. If you have a comment, I'll be happy to know.
Respectfully.
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