Bitcoin (BTC) Closes Bearish Weekly Candle After Slipping Below $40,000 - BitcoinEthereumNews.com
Bitcoin (BTC) is trading very close to two long-term support levels but has yet to show any bullish reversal signs. Bitcoin decreased slightly during the week of April 18-24. While the week began with an upward move that led to a local high of $42,976, the price fell during the latter part of the week, creating a long upper wick in the process (red icon). This is considered a sign of selling pressure. Currently, BTC is trading well below the $43,000 area. This is a crucial long-term level that has intermittently acted as both support and resistance since May 2021. दोनों IQ Option प्राइस चार्ट के नीचे एक अलग विंडो में खुलता है। and MACD are bearish and continue to move downwards. the RIS is below 50 while the MACD is negative. Despite this, BTC is still trading above an ascending support line thats been in place since May 2021. The line is currently close to $38,000. मिश्रित रीडिंग The daily chart provides mixed readings. BTC had been following an ascending support line since Jan. 24. It validated the line numerous times, even creating a few bullish engulfing candlesticks (green icons). The price now seems to be in the process of breaking down from the line at a