Bitcoin Facing $20K, This is What Will Happen if It Breaks Down (BTC Price Analysis) - BitcoinEthereumNews.com
BitcoinBitcoin Facing $20K, This is What Will Happen if It Breaks Down (BTC Price Analysis)06 / 17 / 2022बिटकॉइन एथेरियम समाचार The bitcoin market has been in a blood bath after registering a new all-time high at the $69K level, followed by a period of moving inside a bearish descending chanel. The only question now is if $20K will hold. तकनीकी विश्लेषण By शायन दैनिक चार्ट Currently, Bitcoin‘s price ranges above the significant support level at $20K, which is also 2017’s all-time high. Based on the market sentiment and a clear divergence between the price and the RSI indicator, a short-term rebound followed by consolidation at this price region is the most expected scenario. स्रोत: TradingView Nevertheless, the price would need to break above the $32K level and the 50-day and 100-day moving averages to make a bullish reversal respectable. 4 घंटे का चार्ट The market usually has two phases: an expansion phase in which the price moves sharply in either direction without particular corrections and a consolidation/correction phase in which the price usually ranges and manipulates the players. After a boring mid-term consolidation phase, the price has entered an expansion and experienced a sharp drop to the $20K support level. On the other hand, the bearish momentum has decreased,