Bitcoin has fluctuated between the resistance of 21,600 and the support of $ 20,900. Yesterday, a price return was possible due to the price stoppage and the reduction of buyers' power in the resistance range of $ 20,600. This happened, and again, because the general direction of the short-term uptrend is, the movement of bitcoin in the third encounter with the short-term uptrend line has been accompanied by a good reaction.
But in general, at a higher time in the 1 hour time, due to the hidden positive divergence of the RSI, there is a possibility of a price reversal, so if the strong resistance of $ 20,900 to $ 21,600 is not broken upwards, the bottom of the short bullish channel may be broken. There is a time and a return to lower support. For the short term, the Pivot Points indicator can also be used to determine the momentum and direction of the short-term trend.
But in general, at a higher time in the 1 hour time, due to the hidden positive divergence of the RSI, there is a possibility of a price reversal, so if the strong resistance of $ 20,900 to $ 21,600 is not broken upwards, the bottom of the short bullish channel may be broken. There is a time and a return to lower support. For the short term, the Pivot Points indicator can also be used to determine the momentum and direction of the short-term trend.
Note
BTC’s realized volatility (30 days) had reached a new 12-month high, not reached since June of last year when we started a long-term market correction lasting until now. This is a key mid/long-term indicator of what we’re likely to see in the market over the next few months, and we’re more than ready for it.
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Join our channel:
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Related publications
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.