BITCOIN in a stalemate
Technical analysis of Bitcoin - viewed in the D1 chart
As expected, the BITCOIN (BTCUSD) recently found its stabilization above the support level of USD 30,000. The pressure to sell stopped and yet the mother of all crypto currencies can only be assessed neutrally. A sideways phase, also known as a range, has been clearly defined since mid-May. Accordingly, within 30,000 to 40,000 USD, the coin is in a stalemate situation. Only leaving this range should provide further movement impulses. A rise above USD 42,000 would mean further performance up to the resistance area of around USD 51,000.
Bearish scenario
In contrast, a drop below the USD 30,000 mark would be seen as a sell signal. The consequence of this would be another correction wave of at least USD 10,000 southwards. A test of the price mark of 19,500 USD per coin should therefore be taken into account.
Note:
Despite careful analysis, Global Investa accepts no liability for the content, topicality, correctness or completeness of the information provided. The information provided does not constitute investment advice, purchase recommendations or investment brokerage.
As expected, the BITCOIN (BTCUSD) recently found its stabilization above the support level of USD 30,000. The pressure to sell stopped and yet the mother of all crypto currencies can only be assessed neutrally. A sideways phase, also known as a range, has been clearly defined since mid-May. Accordingly, within 30,000 to 40,000 USD, the coin is in a stalemate situation. Only leaving this range should provide further movement impulses. A rise above USD 42,000 would mean further performance up to the resistance area of around USD 51,000.
Bearish scenario
In contrast, a drop below the USD 30,000 mark would be seen as a sell signal. The consequence of this would be another correction wave of at least USD 10,000 southwards. A test of the price mark of 19,500 USD per coin should therefore be taken into account.
Note:
Despite careful analysis, Global Investa accepts no liability for the content, topicality, correctness or completeness of the information provided. The information provided does not constitute investment advice, purchase recommendations or investment brokerage.
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