Analysis of #Bitcoin in the daily time frame
Analysis of #Bitcoin in the daily time frame
According to the chart, we have two support ranges from $37,400 to $38,137 and resistance from $42,837 to $44,279.
Currently, the price is below its own resistance.
According to the RSI indicator, we are facing a decrease in trading volume.
There are two scenarios in front of us, which are indicated in the chart with numbers one and two.
My personal opinion is with scenario one, provided that the current daily candle closes in the same way (hanged man).
This is not a buy or sell offer.
Be sure to check with your technical analysis knowledge.
Good luck.
According to the chart, we have two support ranges from $37,400 to $38,137 and resistance from $42,837 to $44,279.
Currently, the price is below its own resistance.
According to the RSI indicator, we are facing a decrease in trading volume.
There are two scenarios in front of us, which are indicated in the chart with numbers one and two.
My personal opinion is with scenario one, provided that the current daily candle closes in the same way (hanged man).
This is not a buy or sell offer.
Be sure to check with your technical analysis knowledge.
Good luck.
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