Hello Everyone,
in the last 24 hours, BTC showed a slight rebound that gave Alts and the whole market a bullish price action (only in the short term).
In micro time frame
the level of 25,800 as critical resistance (the red area), and 24,800 acting as short-term support. It is important to monitor the price action around this area closely.
if Bitcoin closed daily or with 4h candle under 24720, this will be a confirmation for the current decline to continue.
the next support in case of this bearish move is 23670 and 22900
In weekly chart
BTC lost a major trendline, also the weekly candle closed under 200MA, and currently, the price is trading under it, that's not a good sign!
in the weekly time frame, if the decline continues, the next rebounding areas will be:
23140 and 21k
- as long as we are under 29k the bears will take control to decline the price more.
stay safe, thank you
in the last 24 hours, BTC showed a slight rebound that gave Alts and the whole market a bullish price action (only in the short term).
In micro time frame
the level of 25,800 as critical resistance (the red area), and 24,800 acting as short-term support. It is important to monitor the price action around this area closely.
if Bitcoin closed daily or with 4h candle under 24720, this will be a confirmation for the current decline to continue.
the next support in case of this bearish move is 23670 and 22900
In weekly chart
BTC lost a major trendline, also the weekly candle closed under 200MA, and currently, the price is trading under it, that's not a good sign!
in the weekly time frame, if the decline continues, the next rebounding areas will be:
23140 and 21k
- as long as we are under 29k the bears will take control to decline the price more.
stay safe, thank you