BTC Price Predictions…Possibility of Facing Another Slope towards $30,000
The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles
Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles
Answer BTC Price Predictions…Possibility of Facing Another Slope towards $30,000
Bitcoin price has been volatile throughout the weekend session, with most indicators green on Sunday, but that didn’t last long.
Where the price of Bitcoin fell below the $35,000 level, and returned to fluctuate again with the bulls seeking to maintain the $33,000 support and restart the upward trend towards $36,000.
At the time of writing this article, the major cryptocurrency is trading at just over $34,000.
The 50 SMA provides immediate support.
A break below the area is likely to lead to the $30K level.
Can Bitcoin Price Maintain Uptrend?
The four hour chart below shows Bitcoin trading within the bounds of an ascending parallel channel.
Read:Peter Brandt: Bitcoin owns its master and offers a wrong way to find the value of life
If the support at “50 SMA” and “100 SMA” fails to hold, the lower edge of the channel will be touched.
Bitcoin could boost above $36,000 if it travels in the middle of the channel.
It appears that a golden cross pattern has formed on the daily chart.
This technical pattern developed the moment the 50-day moving average crossed above the 100-day moving average.
Some of the leading technical analysts in the industry see this pattern as one of the most definitive buy signals that could start a bullish journey.
Looking from another angle:
The MACD indicator adds credibility to the pessimistic outlook, as shown on the previous chart.
This technical indicator, which is following the trend’s path and calculating its momentum, appears to be turning bearish during the same time frame for the first time since June 30th.
Where the 12-day EMA crosses below the 26-day EMA, significantly increasing the odds of a bearish impulse.
Bitcoin levels today:
- Spot price: $34,200
- downtrend
- Volatility: low
- Support: $33,000
- Resistance: $36000
Read also:
Read:The price of the digital currency “ApeCoin” increased by more than 29% to reach its highest levels…Here are the reasons for it!
How much bitcoin does one really need to get rich?
Institutional Demand Continues…Bitcoin ETFs Now Hold Over 22,500 BTC
And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time