One bitcoin price level that determines everything
Bitcoin price has fallen significantly this month. Since November, one of the strongest resources of the year has fallen by about 15%.
The drop pushed the market into two camps again. Some believe that this is the beginning of a deep correction. Others believe that the cycle is still being reversed, and this is only the last part. The next activity is based on one level. Bitcoin supports reset if they are offered again. If it is thrown there, it can be counted quickly.
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Bitcoin will change the moment of failure, but one step must be confirmed
There are signs that sellers are losing strength.
The relative strength index entered the bearish zone this week and has since declined. That usually indicates that pressure selling is taking place.
The genealogical pattern also supports that view. In the year April 30 and There is a high low between November 14, which means that the broad trend will not be completely broken. However, at the same time, the RSI was lower. This is a hidden tharic difference, a strong trend is a sign that seems to be trying to match significantly after the head.
b <ኤሲኤ >> A sign, the price of Bitcoin above $10,000 from $100,300 (key support since the entry in April), may now be a psychological resistance.
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Provide data points for the same areas on the chart. The confirmed price distribution of UTXO shows a long-term bearish band formed near the USD 100,900 zone.
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When it is such an adjective, it is often a significant decision based on the fact that one supply is available at the same cost. This cost resistance cluster falls near the resistance level prescribed on the RSI chart.
That is why the history of the experiment is carried out and that is why the bitcoin price closes from the area above it. Without close, continuous and the readings of the Orvistors remain unconfirmed.
A year low is a one year low position case
The second argument for the fit comes from the variable profit/loss measurement net.
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Nupl has now dropped to its lowest reading in a year to 0.40. This means that the market is similar to the pre-cycle period.
The last time Naples was at a comparatively low capacity. After that, Bitcoint went below 46% in less than 46%. Although this does not confirm the fan, it shows that if the price is going to face again, it will enter the normal pressure zone where the market is applied when the deterioration occurs again.
But again, this indicator also depends on the starting price with the same resistance band. Otherwise, the concept of the Biccon bottle is open but efficient.
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Bitcoin prices in a falling site – in two critical steps
Bitcoin remains in the falling station while waiting for the characteristic short-term trend of Bitcoin.
The first step is easy – get $100,300 again. A daily move above $101,600 will strengthen the movement and return to the old support.
If that happens, the next important level will be placed near $106,300. If the bitcoin falls above it, it will be removed from the site. That will change the brightness to neutral and if the speed is improved, it can change it to the glory.
The danger of drinking is that the lower part of the team has only two clean touches, which makes it weak at best. If the pattern loses $93,900 – $9200, the pattern will open deep levels, and it will be very difficult to defend the “extended cycle” view.
Now everything rests on one decision. More than $ 100,300 dollars will be prepared. The slide below $93,900 can be very bad.
