BTC trend in short term:
BTC is moving sideways in the area of $35k-$37k, the range is gradually narrowing to the innermost ring of the bolinger Band.
Still moving steadily in the linear regression line
The 14th candle is currently above the MA(10) line, creating a new support line for the price of BTC , however, the buying and selling force is still very weak and tends to decrease. If Volume continues to decline for the 15th day and the price stays above the overhead support at $37k, this could be a new support line.
Considering the trend of the RSI line, the price is very likely BTC will returnin the short term, come to the uptrend and combined with the signal of the MACD indicator, the value of BTC has recovered from June 8th.
However, there is still a high possibility that there will be a correction to the $30-$33k price range and then it will really come back. That's in a positive market situation.
At a time when MarketCap fell deeply and there was no sign of money coming back to the market, the entry of money for Altcoins was extremely limited and very dangerous.
Recommendation: Continue to monitor the market and wait for positive signs and clear signals from BTC
Signal: #MA(10), #MA(20), #RSI, #MACD, #BB
BTC is moving sideways in the area of $35k-$37k, the range is gradually narrowing to the innermost ring of the bolinger Band.
Still moving steadily in the linear regression line
The 14th candle is currently above the MA(10) line, creating a new support line for the price of BTC , however, the buying and selling force is still very weak and tends to decrease. If Volume continues to decline for the 15th day and the price stays above the overhead support at $37k, this could be a new support line.
Considering the trend of the RSI line, the price is very likely BTC will returnin the short term, come to the uptrend and combined with the signal of the MACD indicator, the value of BTC has recovered from June 8th.
However, there is still a high possibility that there will be a correction to the $30-$33k price range and then it will really come back. That's in a positive market situation.
At a time when MarketCap fell deeply and there was no sign of money coming back to the market, the entry of money for Altcoins was extremely limited and very dangerous.
Recommendation: Continue to monitor the market and wait for positive signs and clear signals from BTC
Signal: #MA(10), #MA(20), #RSI, #MACD, #BB