Topic: technical analysis of Bitcoin prices - page 2. (Read 321 times)
Its more of a symmetrical triangle but interesting chart anyhow. We have broken the 50 day average again and its fair enough that if we hold above it consistently then some strength is apparent. Whats been happening previously is just endless repeats and if anything I think we've drifted downwards and become less confident, if price makes or break the previous high so that we stop making a series of peaks that are declining then it'd go some way to improving the outlook. Sideways fits best for the moment.
Yes the resistance is there but it looks ready to break any moment. Your chart below:
And now zoom out.
And now zoom out.
traders tried to push the price of bitcoin to over $ 9k4 but once again they failed, and the interesting thing is that the bears tried to push the price of bitcoin to $ 8k3 but continued to fail at 2 points. Support 8k8 and 8k6 $. Is this what the whales want? they want to keep bitcoin at that price and when the 19-year-old covid pandemic is under control they will pump to $ 12k, do you think like me?
Frequent sales failures in stabilizing Bitcoin below $ 9,000 have attracted buyers who have been able to push the price above the 20-day moving average (EMA 20 - blue line in the picture) to $ 9,255. Vendors have defended the simple 50-day moving average (MA 50-red line in the picture) at $ 9,392.
http://s12.picofile.com/file/8402289726/BTCUSDT77_1024x487.png
If prices move down from moving averages, sellers will once again try to lower the price in the support range of $ 8,638,79 to $ 8,825. Below this area, the price drop will continue.
On the other hand, if buyers manage to raise the price above the simple 50-day moving average (MA 50-red line in the picture), the price jump will be possible up to $ 10,000. The long-term negative trend line is slightly higher than this level, so you can expect strong sellers to defend against this level. Any price break above the $ 10,000 to $ 10,500 resistance zone will be a significant event for the price, as it could stabilize an upward trend in price.
Resistances: 9,392 - 10,000 - 10,500
Support: 8,825 - 8,638,79
tnx
http://s12.picofile.com/file/8402289726/BTCUSDT77_1024x487.png
If prices move down from moving averages, sellers will once again try to lower the price in the support range of $ 8,638,79 to $ 8,825. Below this area, the price drop will continue.
On the other hand, if buyers manage to raise the price above the simple 50-day moving average (MA 50-red line in the picture), the price jump will be possible up to $ 10,000. The long-term negative trend line is slightly higher than this level, so you can expect strong sellers to defend against this level. Any price break above the $ 10,000 to $ 10,500 resistance zone will be a significant event for the price, as it could stabilize an upward trend in price.
Resistances: 9,392 - 10,000 - 10,500
Support: 8,825 - 8,638,79
tnx
Jump to: