Bitcoin Price Analysis

Bitcoin price analysis; Where is the resistance and support ahead?

The price of Bitcoin fell to $ 31,200 yesterday and then below $ 30,000 after continuing its downward trend and fluctuations below the $ 33,000 area. Currently, the price of this digital currency is below the simple 100-hour moving average.

to the the report Bitcoin is currently hovering below $ 30,445. In the past few hours, we have seen price revivals on several occasions, but none of these revivals have been able to push the price above the Fibonacci 23.6%. The Fibonacci was down from $ 31,901 to $ 30,445.

$ 31,200 will be the first bitcoin price resistance. The area is near 50% Fibonacci, down from $ 31,901 to $ 30,445.

$ 31,500 The next key resistance is the price of Bitcoin. In the one-hour time frame, we also see the formation of a large downtrend line, which is near $ 31,550. $ 31,500 is close to the simple 100-hour moving average.

Closing the price above this trend line could pave the way for a revival up to over $ 32,000. In addition, a break of 32,000 could increase the value to $ 33,000.

Bitcoin price analysis;  Where is the resistance and support ahead?

If Bitcoin does not recover to $ 31,200 and $ 31,500, it is more likely to fall. $ 30,200 is the main support for the price of Bitcoin and $ 30,000 is the key support for this digital currency.

Closing below $ 30,000 can lead to a slow fall in the short term.

The MACD is slowly falling in the one-hour timeframe. The relative strength index (RSI) is also below 50.

As mentioned earlier, $ 30,500 and $ 30,000 are the main supports of Bitcoin, and $ 31,200, $ 31,500 and $ 32,000 act as resistance to this digital currency.


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