Analytics

BTC: Estimated To Keep Hitting A New Low. Go SHORT

chart

Bitcoin continues its shrinking consolidation trend, moving in the range of $7,100–7,400 USD. The lowest was down to around $7,100, which directly broke the lower rail support level.

From the 4-hour line, the Bollinger Band is trending downward. MACD has emerged from the bonding state. A dead fork has formed. Both KDJ and RSI are turning their heads. At present, there is no support at the bottom. The MA60 is under heavy pressure at $7,450, which is subject to the short-term pressure of the $7,330. This line is also the short-term pressure level of the Bollinger Band.

Based on the current trend analysis, the trading ideas can be shorted between $7,400-$7,500, and the $7,100-$7,200 go long(not recommend). There is also enough operating space to control the opportunity within the interval. I believe it will keep going down below $7,000 in the next few days. manage your risk.

Welcome to Bexplus! Subscribe us for the latest analysis on the cryptocurrency market.
Join us:

http://www.bexplus.com
Telegram:
https://t.me/bexplusexchange
Facebook:
https://www.facebook.com/bexplusglobal/
Twitter:
https://twitter.com/BexplusExchange