Bitcoin: Is It A Rebound Or A Reversal?

 2021-06-24 08:17:27

The Bitcoin market has not changed much recently, and it is still in a period of shock adjustment.


From the 4-hour chart, yesterday's market continued to oscillate and rebound, and the price approached $35,000 after breaking through the upper rail resistance of the channel. The follow-up market began to retreat and stabilized at $33,800. The current market is in the upward channel, and the upper resistance is suppressed at around $35,000. The lower support is located near $33,200.

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From the 30-minute chart, the market rebounded all the way after breaking through the downward channel, standing at $33,000 now. On the chart, the current important support is in the area of $33,000 to $33,200. As long as the market does not break through $33K, the rebound will continue. The next target position could be focused on the vicinity of $36,000, which is a pressure position that needs to be challenged in the following hours. The current market shows signs of continued upside.

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DISCLAIMER: 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.

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