Bitcoin (BTC) is so far without much movement, which would bring the market to some interesting level. On the other hand, a certain price action is taking place. It may not be a miracle, but we have movements in the graph. It is also quite possible that we will stay between the nearby S / R levels for a longer time. That’s why we probably won’t see that all time high so quickly.
Current situation at 1D BTC / USD
Bitcoin rebounded slightly from support of $ 52,500. Respectively from its upper edge, because the course has not yet penetrated into the support zone. The price again closed above the high volume node volume profile, which is a success, but it is important to stay above this area. By the way, these are levels above $ 56,500.
So Bitcoin is back where it was a few days ago. The course of the course has stopped at the moment. In essence, the market is close to the last key resistance, which is around $ 61,500. But I’m not sure that the price will go up. The momentum is very weak and there has been no healthier correction.
I said that it would be desirable for Bitcoin to fall for at least $ 51,000. Around the level of 52,500 USD, it is a striking support confluencewhich would most likely last. In addition, the much-desired momentum that is now lacking could arise here.
Indicators
A small potential bearish divergence is already developing on the RSI indicator, but it would not even be in overbought values. That’s why I wouldn’t pay so much attention to her. But it is a sign that the inertia is seriously going up to higher price levels. This is also confirmed by the MACD, where the columns of the histogram are constantly lower and lower as the price increases.
In conclusion
Today it was short, but on the one hand nothing much happened and on the other hand there is a stream in the evening, where we have a lot of time for a comprehensive market analysis. In any case, it now occurs to me that Bitcoin does not have the strength to move up quickly, so it is quite possible that the course will fluctuate around current levels.
ATTENTION: No data in the article is an investment board. The analysis does not try to predict future price developments. It serves exclusively as an educational text on how to approach the market mentally. Before you invest, do your own research and analysis, you always trade only at your own risk. The kryptomagazin.cz team strongly recommends individual risk considerations!
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