Bitcoin (BTC) has triggered a new correction phase, with prices exceeding $31000 in mid month, and the largest cryptocurrency has been declining since then. The correction in Bitcoin prices has led to the largest cryptocurrency falling by over 12% in the past two weeks, with the decline ending at the support level of $27250
Bitcoin (BTC) has triggered a new correction phase, with prices exceeding $31000 in mid month, and the largest cryptocurrency has been declining since then. The correction in Bitcoin prices has led to the largest cryptocurrency falling by over 12% in the past two weeks, with the decline ending at the support level of $27250. In this article, you can find answers to questions about the level at which Bitcoin prices should be carefully followed, what is BTC's short-term future, and what Bitcoin banks are.
BTC Future Evaluation
Over the past three days, the price of Bitcoin has fluctuated narrowly between $27900 and $27250. The rise that occurred after the last price drop was a brief breakthrough, during which the increasing buying pressure was offset, and ultimately the seller is expected to continue to dominate the decline by breaking through the range support.
As the candle on the 4-hour Bitcoin price chart closes below $27250, selling pressure may accelerate, with prices expected to fall to the immediate support level of $26750, accompanied by a 32.8% Fibonacci pullback. The support level of $26000 and $750 is an important level that needs to be followed to balance buyers and sellers. If this support level is tested, it can be expected that buyers will show strength and increase the price to over $30000.
On the other hand, a candle closing below $26750 may lead to a direct drop in price to the level of $25200 to $25000, which is accompanied by a 50% Fibonacci pullback level.
What is the impact of technical indicators compared to Tecoin?
The bullish deviation of the Relative strength index 4-hour price K-line trend chart indicates that the pressure on the market to buy has increased, because it is difficult for buyers to control the trend. On the other hand, the 20-day moving average (EMA) is currently serving as a continuous correction stage for dynamic resistance triggering.
What is Bitcoin Bank?
BitcoinBank is said to be one of the most reliable Bitcoin and cryptocurrency trading applications on the market. It uses best guess through its robots. Bitcoin Bank uses highly repetitive trading strategies and complex calculations to help customers estimate the cost of cryptocurrency.
This trading platform uses algorithm technology, combined with intelligent robots and artificial intelligence technology, to help customers maximize profits from Bitcoin transactions. Edge trading allows customers to leverage the advantages of the platform and earn significant profits with minimal funds. This platform provides impact options from 1:100 to 1:500. This means you can increase the amount from $250 to $125000.
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