Welcome to the analysis of this Tuesday's Bitcoin course on TA-Tuesday. In this short update of the course, we review the tables and see what they can tell us about the future course of BTC.
The Bitcoin Pump course has definitely ended from the beginning. However, we are currently undergoing a correction or are we now on the pump now the discharge?
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Does the BTC route pump follow the landfill?
As can be seen, the power measurement between line 100-MA (orange) and line 200 MA (red) found an end. As a result, the price of bitcoins dropped to $ 8,650.
Currently, the BTC price is $ 8,750 and has lost 5.87% in the last 7 days.
The fall was initially caused by the downtrend line and the 50 MA line (green). At the same time, in the coming days and weeks, we can expect the 100-MA line from above to continue to put pressure on the price of Bitcoin.
In addition, the volume is too low to expect a sustained upward trend.
This week may be relatively monotonous in terms of price fluctuation, until we can eventually move to $ 7,800 to $ 8,000.
The last lifeline for the Bitcoin course
On the weekly chart, we see that the price action for the Bitcoin price will probably occur between the two lines of resistance drawn in black and the support lines.
For the long-term price, it is important that we do not fall below $ 7,600, otherwise we would have a new low. In principle, this would also be a long-term bearish signal, which could point us to the path to deeper price regions.
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