Bitcoin’s market trend has shown a continuous downward movement this week, and the rhythm of the rebound is also very weak. After a continuous decline, the market directly fell from a high of around $58,000 to around $45,000, and the overall decline reached Around $13,000 points. After two days of decline, there was an oversold rebound. The highest rebound was near $51,350 yesterday, and it is still finishing in the range of $48,000-$50,000.
From the four-hour K-line, the channel from the Bollinger Bands is still moving downwards. The MA 60 has now become a strong resistance level. It is difficult to break below the pressured $52,000 price level in several attempts yesterday. The MACD indicator is the performance of the market’s long and short kinetic energy. The fast and slow line has been changed from the strong operation above the zero axis to the weak operation below the zero axis.
The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.