Analytics

BTC: Short-Term Support $7,250 And Resistance $7,450

BTC touched the pressure level of $ 7,700 but it cannot stand above and lead to go down to $7,300. This point is where the MA5 , MA20, and MA30 meet, Which has strong support. The future operations can follow this Point as the basis for long-short demarcation.
for some traders, today’s sharp fall has caused the rise in yesterday’s profits to be basically finished, even in the short term, it will continue to be suppressed by the short market.

The MA5 and the MA30 intersect and stick together to form a support for $7,270. Before breaking this support, the bears have no further thoughts in the short term, And the Bollinger Band’s middle rail is located at the key dividing line area. The Bollinger Bands’ opening is still in a parallel trend, the oscillating interval continues, the moving average system continues to rise, and the market outlook is likely to enter the situation of stagnation.

BTC trading tips:
Short-term support $7,240 Short-term resistance $7,450
Medium and long-term support $7,130 Medium and long-term resistance $7,650
please set up a stop profit or loss since the fluctuation of the market.

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