Bitcoin Technical Analysis & Trading Signals

Bitcoin Technical Analysis

BITCOIN  Price Technical Analysis: Weekly Chart

Bitcoin Technical Analysis
  • In the weekly charts, Bitcoin is trading in a downward channel.
  • Bitcoin  is near its crucial support of 20-days SMA. If it breaks this support, it will possibly test the 50-days SMA level.
  • Bitcoin  will follow a downtrend in the coming weeks.
  • Bitcoin ‘s crucial resistance level is at 51,994.48 which is near 20 days SMA as of now. There are no signs of a bullish trend.
  • Bears have their tight grip on Bitcoin.

TRADE SIGNAL- BITCOIN ,SELL: 40,390.20, TARGET:-38,390.20, STOP LOSS:- 41,390.20.

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