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Bitcoin price trading with strong negativity yesterday to attack level 7800.00 and break it down and settle without it, thus completing the formation of a double summit model showing its features, which pushes the price to divert its instantaneous and short-term decline and visit areas up to 7100.00 in principle.
Thus, the downward slope will be weighted for this day unless the price can penetrate the 7800.00 level and re-position it again.
Attachment 23926
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I dunno, but I think you violated the rules of this forum by posting an external link (cmiiw). And again ..., you should write this/asking about that in another thread not here, because here we discuss Bitcoin analysis only. Maybe there are many games and gambling arenas out there using bitcoin, but I most of forum members here don't know bout that except about bitcoin trading.Originally Posted by Natalen
#12
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Bitcoin price has made more positive trades to penetrate the resistance line again, on the way to test the 50 animated average, noting that the indicator loses its positive intent gradually, to support the chances of relapse down during the upcoming sessions.
Thus, we will continue to weigh the overall downward trend unless the 6440.00 level is compromised and steadiness over it, indicating that the fracture of 6039.30 is required to confirm the downwave stretch of about 5500.00.
The range of trading expected today between support 5500.00 and resistance 6600.00.
BTCUSDH4.jpg
#13
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Bitcoin price bounced down after a moving average of 50 strong resistance barriers to recent positive price attempts, so the overall downward trend scenario remains effective to date, targeting levels of 6039.30 and 5500.00, mainly.
Attention must be drawn to the fact that 6440.00 penetration and persistence above it will stop the expected decline and pay the price for the instantaneous and short-term recovery.
The range of trading expected today between support 5800.00 and resistance 6600.00.
BTCUSDH4.jpg
#14
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Mid-day Update for Bitcoin technical analysis
Bitcoin price is back for the 50 animated average test, which warrants attention from the upcoming trades, as exceeding 6440.00 will drive the price to move upward and gain up to 7000.00 in principle, while we will continue to weigh the downward trend of the day by relying on persistence without 6440.00, with Recall our expected main objectives, which start at 6039.30 and extend to 5500.00.
The range of trading expected today between support 5800.00 and resistance 6600.00.
BTCUSDH4.jpg
#15
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Bitcoin price oscillates around the moving average of 50 since yesterday, which is a good negative pressure for positive price attempts, while the indicator continues to provide negative signals.
Therefore, we will keep our expectations for the downward trend for the next period, subject to persistence below 6440.00 and most importantly below 6530.00, indicating that we are waiting for the target of 6039.30 and 5500.00 levels as the following main stations.
The range of trading expected today between support 5900.00 and resistance 6700.00.
BTCUSDH4.jpg
#16
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Bitcoin price for the pivot resistance test is 6530.00, which warrants attention from the upcoming trades, as penetration of this level will complement the formation of a positive model that has the ability to pay the price to realize the gains in the short and long term and turn the upward trend.
So far, we are continuing to weigh the downward trend under the condition of persistence without 6530.00, recalling that our main objectives start at 6039.30 and extend to 5500.00.
The range of trading expected today between support 5900.00 and resistance 6800.00.
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#17
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Bitcoin price of today's trades starts at a strong height to penetrate the 6530.00 level and tries to stay on top of it, stopping the negative scenario suggested in our recent reports and driving the price for a shift toward elevation, aiming at a initially 7000.00 level visit.
Thus, the upward trend will be weighted for the day unless the 6530.00 level is broken and the persistency is reversed again, with the indication that the penetration of the target level will extend the price gains to 7480.00.
The range of trading expected today between support 6400.00 and resistance 7200.00.
BTCUSDH4.jpg
#18
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Bitcoin price approached 7000.00 on Friday and bounced down strongly after finding strong resistance, which was shaped by the Fibonacci correction level of 38.2% of the reduction measured from 8496.96 to 5880.00, which provides signals of price orientation to resume the downward trend in the coming sessions, especially as the price moves Inside a rising satellite channel, we believe that it forms a declining science paradigm.
Thus, the main downward trend will be weighted in the instantaneous and short term unless the level of 6880.00 is compromised and the persistence above it, with the indication that the fracture of 6335.00 will confirm the continuation of the downward trend with its first main objective at 6039.30.
The range of trading expected today between support 5900.00 and resistance 6800.00.
BTCUSDH4.jpg
#19
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Bitcoin Price attempted to penetrate the level of 6500.00 but it returns to trade without it, thus keeping the downward trend scenario effective so far, the price needs to break the 6395.00 level to stimulate the price to resume the main downward trend that begins its goals at 6039.30 and extends to 5500.00 after the level break Previous.
Thus, we will continue to weigh the downward trend of the day, paying attention to the fact that 6500.00 penetration may pay the price to visit 6880.00 regions before returning back to the decline again.
The range of trading expected today between support 5900.00 and resistance 6800.00.
BTCUSDH4.jpg
#20
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Mid-day Update for Bitcoin technical analysis
Bitcoin price offers new positive trades to move above the 6500.00 level, which warrants attention from upcoming trades, as stability above that level will lead the price to gain up to 6880.00 before any new downward attempt.
So far, we will keep our expectations of the downward trend in the coming sessions with a stable condition below 6500.00, recalling that our main objectives start at 6039.30 and 5500.00.
The range of trading expected today between support 5900.00 and resistance 6800.00.
BTCUSDH4.jpg
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