Following a successful rally to $40,000, Bitcoin’s (BTC) price has been consolidating below the recent high.
On July 26, BTC price retested the psychological price level, but pulled back to the $38,000 support. Buyers have succeeded in pushing Bitcoin above the $40,000 high, but could not sustain the bullish momentum above it.
For the past four days, Bitcoin has been in a downward correction between $38,000 and $40,000. Analysts believe that consolidation near a resistance level increases chances of a breakout. On the upside, if price breaks the $40,000 level and the bullish momentum is sustained, BTC/USD will reach the high of $44,000. Nevertheless, the crypto will continue its downward correction if the bulls fail to breach the psychological price level convincingly.
Citirea indicatorului Bitcoin
Bitcoin price has reached level 70 of the Relative Strength Index, period 14. It indicates that Bitcoin has reached the overbought region of the market. Further upward move is doubtful. The daily stochastic has also confirmed that Bitcoin is in the overbought region of the market. Sellers will emerge to push prices down.
Tehnice de indicatori:
Niveluri majore de rezistență - 65,000 USD și 70,000 USD
Niveluri majore de asistență - 40,000 USD și 35,000 USD
Care este următoarea direcție pentru BTC / USD?
BTC/USD is fluctuating below and above the $40,000 psychological price level. There is every indication that it will rally above $40,000 high, but will face further rejection on the upside. Meanwhile, on July 26 uptrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that Bitcoin will reverse to level 1.272 Fibonacci extension or $43,526.40 level where it originated.
Declinarea responsabilității. Această analiză și prognoză sunt opiniile personale ale autorului și nu sunt o recomandare pentru cumpărarea sau vânzarea de criptomonede și nu ar trebui privite ca o aprobare de către CoinIdol. Cititorii ar trebui să își facă propriile cercetări înainte de a investi fonduri.
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