Analysis of current Bitcoin movement situation for short term
Updated
Hello to all members of TradingView and my followers.
In the 4-hour timeframe, high demand for entering Bitcoin can be seen around the price of $19,000, according to the shape of the price movement and the volume of transactions. By breaking the $20500 resistance, it will be possible to start a new wave up to the specified targets. The static range identified around $19,000 will be our key support in the short term.
There is a possibility that this upward movement recorded in the last few hours is fake. Therefore, if you have made a purchase, pay close attention to how the price reacts to the mentioned support levels to save profit if the support breaks.
A break of the $19,000 support area will lead Bitcoin to the $18,000 support and even lower.
Bitcoin Dominance is in a range condition and is still fluctuating below the resistance of the 44-44.5 range. The general trend of this index is also downward.
Yesterday's total market index has shown a perfect reaction to the support of the 838-828 range. The index has already reacted to the resistance of the $885 billion range, the general direction of the movement of this index is downward, and there is a possibility of a return to the support levels.
If it is helpful to you, please like it. If you have a comment, I'll be happy to know. Respectfully.
In the 4-hour timeframe, high demand for entering Bitcoin can be seen around the price of $19,000, according to the shape of the price movement and the volume of transactions. By breaking the $20500 resistance, it will be possible to start a new wave up to the specified targets. The static range identified around $19,000 will be our key support in the short term.
There is a possibility that this upward movement recorded in the last few hours is fake. Therefore, if you have made a purchase, pay close attention to how the price reacts to the mentioned support levels to save profit if the support breaks.
A break of the $19,000 support area will lead Bitcoin to the $18,000 support and even lower.
Bitcoin Dominance is in a range condition and is still fluctuating below the resistance of the 44-44.5 range. The general trend of this index is also downward.
Yesterday's total market index has shown a perfect reaction to the support of the 838-828 range. The index has already reacted to the resistance of the $885 billion range, the general direction of the movement of this index is downward, and there is a possibility of a return to the support levels.
If it is helpful to you, please like it. If you have a comment, I'll be happy to know. Respectfully.
Note
Completing the short-term bullish wave?
Note
Trade closed: target reached
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