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• If the buyers fail to regroup at this support, Bitcoin would be doomed for short-term bearish
After facing rejection around $10200 yesterday, Bitcoin has further dropped to the $9700 area we mentioned in our previous crypto trading signals. This hourly support has seen a small bounce but the price may keep dropping if the sellers are still showing commitment. If the bulls charge-back, however, Bitcoin would recover quickly towards the previous resistance levels.
اهم مزاحمت جي سطح: $ 10000 ، $ 10200
اهم سپورٽ جي سطح: $ 9600 ، $ 9200
Bitcoin (بي ٽي سي) قيمت جو تجزيو: 4 ايڇ چارٽ - Bullاڙ
Bitcoin is slowly correcting at the rising wedge’s support of $9600 on the 4-hours. The slight price drop was led by a strong resistance level of $10200. Meanwhile, Bitcoin is still looking bullish on a long-term. We can expect Bitcoin to bounce back once the market test the immediate blue zone of $9600.
From here, the market is expected to buy-back at $10000 and $10200 before breaking higher. If a rebound fails and Bitcoin slumps, the closest support to watch out for is the next blue zone of $9200, right beneath the wedge. This break would trigger a short-term bearish. But as it is now, Bitcoin remains bullish on the mid-term.
Bitcoin (بي ٽي سي) قيمت جو تجزيو: ڪلاڪ وارو چارٽ ـ Bearish
On the hourly chart, Bitcoin is slightly bearish and currently trading around the $9700 support which would determine the next direction of the market. Two things are likely to happen here: a break or a bounce. This bearish move was triggered yesterday following a sharp wedge breakdown.
In case Bitcoin manages to bounce from this $9700 support, we should expect an upward price movement in no time. The $10000 and $10200 resistance would be the next target but Bitcoin needs to reclaim a near resistance at $9900. A further bearish move could floor BTC price at $9550 support, in the next blue horizontal zone. Bitcoin may fall heavily if the price drops below this support.
BITCOIN وڪڻ وارو حڪم
وڪرو: $ 9788
ٽي پي: $ 9658
SL: $ 9948 $
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