What you need to know about the BTC price chart here and now.
Weekly chart
Key areas on the Bitcoin price chart – $14,5 thousand, $14 thousand and $ .6k. These are the only levels that matter at the moment. We will have time to discuss other levels of support and resistance when they become relevant. Now I would like to see the close of the week above $14 thousand on BTC is trading lower today. We have yet to convincingly turn this level into support on the weekly timeframe.
Daily chart
On the daily chart retest $42 Thousand and blue trend line is still in progress as the candle has not yet closed. A test of the 50 MA is also good if the market manages to recover confidently. So far, I am optimistic and see the prospect for growth. Nothing happened to change my mind. The price reached significant resistance and reacted – not surprisingly after such an expressive move. Consolidation below resistance usually results in an upward move.
I haven’t looked at Bollinger Bands for a long time. As you can see, the price is again at the top of the indicator and is testing the center line as support. As a rule, selling at the upper border of the Bollinger Bands and buying at the lower border is easy trading for scalpers when the price and, accordingly, the indicator move sideways.
4-hour schedule
The price movement at the resistance did not look bullish. It was a rounded top, not a flag or pennant that could signal consolidation before the momentum continues.
I’ve highlighted a few areas of interest that can (hopefully) be used for short-term trades. At the time of writing, the price is testing the main support area.
BitNews disclaim responsibility for any investment advice that may be contained in this article. All judgments expressed express exclusively the personal opinions of the author and the respondents. Any actions related to investments and trading in the crypto markets are associated with the risk of losing the invested funds. Based on the data provided, you make investment decisions carefully, responsibly and at your own peril and risk.
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