Hello all, here I give you the technical analysis of bitcoin based on the daily chart. So, let's get it started!
If you've seen my previous analysis about bitcoin, you should have known the 3 crucial levels that I've already anticipated before. The first level is the red dynamic line which is the 200 moving average. This level is a very strong dynamic support for bitcoin. But, with yesterday's close, it gave us confirmation of breaks down.
The next crucial level is the white support trend line which has been established since the December 2019. This line is still holding the price very well. A close below this level, will confirm the down trend of the price and bigger possibility for the price to touch the $8000 region.
Still in the neutral zone for now. I'll never open a short position unless the price has broken down of the support trend line.
If you've seen my previous analysis about bitcoin, you should have known the 3 crucial levels that I've already anticipated before. The first level is the red dynamic line which is the 200 moving average. This level is a very strong dynamic support for bitcoin. But, with yesterday's close, it gave us confirmation of breaks down.
The next crucial level is the white support trend line which has been established since the December 2019. This line is still holding the price very well. A close below this level, will confirm the down trend of the price and bigger possibility for the price to touch the $8000 region.
Still in the neutral zone for now. I'll never open a short position unless the price has broken down of the support trend line.
