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Bitcoin (BTC) is from yesterday he moved slightly, which we must definitely take into account. This is not a significant signal, but as the exchange rate penetrates deeper into the support zone, we will probably have a daily close of around USD 32,000. Which the market may already take as a signal to retest $ 30,000.
Current situation at 1D TF BTC / USD
To summarize the daily graph, it is currently clear that Bitcoin not able overcome the June high at all and not test at all Point of Controlwhich is at about $ 37,000. On the contrary, there is a tendency to stay close to the support zone, which nicely reflects the attacks of vendors, but the longer this situation persists, the more the chances of a breakthrough increase.
It is also clear from the graph that the upper limit of the band held quite nicely, but in those last days there was not much strength to bounce. The course only stood idle, and today some bulls ran out of patience and preferred to give up their efforts. We are just behind us small salewho received the course almost to the middle marked zone.
Daily close will be very important, because if it closes somewhere below $ 32,000, the logical reaction of the market is another price drop, which will get Bitcoin back to $ 30,000. This can certainly be considered an attempt at a breakthrough. Otherwise, in terms of volumes, they are still small. Nothing has changed in this regard, and I am afraid it will not change until there is a breakthrough.
Indicators
As the course goes down, the RSI curve basically now tests the lower marked diagonal. If the growth structure of the curve breaks, it will be a confirmation of a decline and the market may react in the form of further selling pressure. There is currently no positive momentum on the MACD. There will probably be a bearish cross in a moment.
Current situation at 4H TF BTC / USD
As for the intraday chart, the exchange rate spilled out of the line at night growth structures, which didn’t look very believable on the daily chart. Bitcoin failed to beat the local S / R level of $ 36,605 in June, and subsequently failed to beat the peak. The exchange rate later tended to fall further and further, eventually noticeably sticking to the lower edge of the growth structure.
The breakthrough itself was evidently taken by sellers as a signal of greater aggression. Volumes increased during the decline, but in the context of several weeks this is the average. By that I mean that no armageddon is taking place at the moment. However, it is from price action Obviously, Bitcoin tends to test the $ 30,000.
Indicators
4H RSI just shows 33 points, so we are very close to the border level. It would be nice to see the result of testing those 30 points.
In conclusion
Today may be crucial for Bitcoin in the end, and it will depend a lot on the daily close. Maybe in the end, shoppers will be able to drive the price back above the support band. Some defense is known here.
However, it is undeniable that we have an obvious tendency to push the price gradually lower and lower. It simply came to our notice then. It is true that the bulls are successfully defending key support, but they are no longer able to make a stable effort to expand. Which is crucial.
ATTENTION: No data in the article is an investment board. Before you invest, do your own research and analysis, you always trade only at your own risk. The kryptomagazin.cz team strongly recommends individual risk considerations!
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