Bitcoin Technical Analysis: Is Bitcoin Gaining Strength

Bitcoin, which started last week by descending to the support point at the $ 21400 level, quickly made attacks up to the $ 25200 level, the peak of August 2022, with purchases from this point. With the intense selling pressure from here, Bitcoin closed the following days between $ 23500 and $ 24600. Bitcoin, which started the day at $24632, experienced a similar scenario and rapid attacks up to $25192. With the sales from this region, it closed the day with a decrease of 1.46% at $ 24271. Bitcoin’s performance this week, which closed with an increase of 11.42% weekly, was eagerly awaited by investors.

Bitcoin, which started the day at $ 24272 in the new week, is trading at $ 24461 with a daily increase of 0.78% at the minute of our writing.

Bitcoin Chart Analysis

Bitcoin, which has repeatedly tried to break the resistance at $ 25211 in the past week, faced very hard sales from this region. This region will appear as resistance in the new week. In possible retracements, the daily EMA 5, $24173, and EMA21, $23137, appear as our first support points.

Bitcoin Technical Analysis: Is Bitcoin Gaining Strength

What is the latest situation in Altcoin?

The latest situation in some altcoins;

  • Ethereum: up 0.55% at $1689,
  • Solano: up 6.64% at $26.48,
  • Avax: up 2.21% at $20.21,
  • Ripple: up 0.59% at $0.3907,
  • BNB: It is trading at $316.2, up 1.48% at the time of writing.

This article does not contain investment advise or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when deciding.

You might check: AVAX Technical Analysis: 200-Day Average Exceeded

Vera Golubev

Vera holds a master's degree from New York University in Business and Economics, was a banker turned writer who discovered cryptocurrency, now a fintech blogger, crypto journalist, and growth marketer. She is passionate about helping startups spread the word, discover and promote great projects in the crypto and fintech industry.

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