The continuing sales pressure seen in the market is due to the fear of some miners in the market and also the outflow of capital of some large investors due to the effects of negative news in the market. Bitcoin continued to fall in the past few days, again faced with increasing sales pressure and its price reached $ 29,730. It has already shown a slight reaction to the $ 30,000 rand number. Bitcoin monthly candle has hit a very important support range. This support range is priced at $ 32,300 to $ 29,300. Also, Bitcoin Close Annual Support for 2020 is $ 28,923.
Several resistance ranges are plotted on the diagram as follows:
The first resistance is in the range of 32730 to 32588 dollars, which is related to the 2-hour time frame. The second resistance is in the range of $ 33,420 to $ 33,180 and is related to 1 hour time frame. The third resistance is in the range of $ 34,020 to $ 33,820 and again relates to the 1 hour time frame.
And finally the resistance of 34785 to 34240 dollars, which is related to the daily time frame.
The point is that to confirm the breaking of these resistors, you must pay attention to the candlesticks of the same time frame. And the next important point is that because of the breakdown of these supports, we expect to react again and return to lower supports.
But to completely remove the selling pressure, you have to wait a few days. The slope of the collision to the support is very high. The downtrend line drawn on the last wave, as a dynamic resistance, can prevent further price growth.
zoomarz.com
Several resistance ranges are plotted on the diagram as follows:
The first resistance is in the range of 32730 to 32588 dollars, which is related to the 2-hour time frame. The second resistance is in the range of $ 33,420 to $ 33,180 and is related to 1 hour time frame. The third resistance is in the range of $ 34,020 to $ 33,820 and again relates to the 1 hour time frame.
And finally the resistance of 34785 to 34240 dollars, which is related to the daily time frame.
The point is that to confirm the breaking of these resistors, you must pay attention to the candlesticks of the same time frame. And the next important point is that because of the breakdown of these supports, we expect to react again and return to lower supports.
But to completely remove the selling pressure, you have to wait a few days. The slope of the collision to the support is very high. The downtrend line drawn on the last wave, as a dynamic resistance, can prevent further price growth.
zoomarz.com