Bitcoin Plummeted After Skyrocketing, Where And What Is The Next Wave?

 2021-07-27 11:41:41

According to the news on July 26, Amazon will accept Bitcoin payments at the end of the year at the earliest. The market has risen due to the influence of good news, reaching a maximum of $40,000 that day. On July 27, the instant good news was dismissed again: Amazon denied that it would accept Bitcoin payments this year and issue cryptocurrency in 2022. As soon as the news came out, it plunged $3,000 instantly. The quotations of the past two days are all due to the influence of news--it skyrocketed at first, and then plummet. Bexplus' analysts believe that news is only a factor that catalyzes the rise and fall of the market, and is not a decisive factor in the operation of the market. The rise and fall of the market have their own trajectory. If it rises too much, it will be called back, and if it falls too much, it will rebound.

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Bitcoin price registered a major increase after it broke the $35,000 resistance zone. The current price is around $38,000, and there are signs that it might continue to break through $38,500 and continue to return to $40,000 with the support near $36,000 on the hourly chart. If Bitcoin fails to climb above the $38,500, it could continue to drop down and crash to $34,000.

 

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI-- The RSI is now above the 50 level.

Major Support Levels – $36,500, followed by $36,000.

Major Resistance Levels – $38,500 and $40,000.

 

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.

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