Further decline or range trend?

2022년 7월 4일

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.

2022년 7월 4일

노트

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.

2022년 7월 4일

노트

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.

2022년 7월 5일

노트

The bearish scenario is still more likely