Bitcoin (BTC) technical analysis:
Trade setup: Price got rejected at $25K again and pulled back sharply to $20 support, which is also a 200-day moving average and a critical level to hold in order to maintain an Uptrend.
Trend: Downtrend on Short-Term basis, Neutral on Medium-Term basis and Uptrend on Long-Term basis.
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance: Nearest Support Zone is $20.0K, then $17.5K. The nearest Resistance Zone is $22.0K (previous support), then $25.0K.
Trade setup: Price got rejected at $25K again and pulled back sharply to $20 support, which is also a 200-day moving average and a critical level to hold in order to maintain an Uptrend.
Trend: Downtrend on Short-Term basis, Neutral on Medium-Term basis and Uptrend on Long-Term basis.
Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).
Support and Resistance: Nearest Support Zone is $20.0K, then $17.5K. The nearest Resistance Zone is $22.0K (previous support), then $25.0K.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.