The market has not recovered from the blow in the previous two weeks, and currently South Korea and New Zealand are also undertaking supervision of the crypto market. The impact of regulation is still suppressing the increase in prices in the crypto market. The data shows that a large amount of funds flowed out of the Bitcoin market during the day, causing market panic to heat up again, and the overall composition of the price continued to suppress.
Bitcoin price continued yesterday's decline, and then remained in a low range. The short-term trend is weak. The current shock range focuses on $32,650-$33,500. The price rebounded quickly near the support position twice, indicating that the current lower support is strong, and the upper resistance position has failed to break through many trials. The negative trend combined with the rising market panic has prompted investors to remain cautious when the price breaks upward.
Hourly MACD – The MACD is slowly moving into the bullish zone.
Hourly RSI – The RSI is now well above the 80 level.
Major Support Levels – $32,650, followed by $32,600.
Major Resistance Levels – $33,500, $33,650 and $34,000.
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.