BTC witnessed a volatile last week as it traded in a range of $44,000 to $49,000, it faced strong selling pressure at the higher levels which triggered the downside rally. However, it closed the weekly candle in the green territory and formed a Doji kind of a candlestick pattern. Crypto markets started this week with negative sentiments as the top crypto assets fell by ~5-10%.
After gaining more than 60% from its July low levels, BTC seems to have started its pending contraction move as it is trading ~10% from its recent high of $52,945. Massive selling pressure is present in the range of $50K to $52K. As per the Fibonacci retracement levels drawn by connecting the July lows to the recent high, BTC is managing to sustain above its 0.382 level which is placed at $43,590.
On the higher side, the immediate hurdle is present at $46.5K, post this, the next potential sell wall is present at
48K followed by the psychological level of $50K. On the lower side, the nearest support is present at $43.8K and if this level is broken decisively, selling pressure can continue till the level of 
42K followed by $40K.
After gaining more than 60% from its July low levels, BTC seems to have started its pending contraction move as it is trading ~10% from its recent high of $52,945. Massive selling pressure is present in the range of $50K to $52K. As per the Fibonacci retracement levels drawn by connecting the July lows to the recent high, BTC is managing to sustain above its 0.382 level which is placed at $43,590.
On the higher side, the immediate hurdle is present at $46.5K, post this, the next potential sell wall is present at
48K followed by the psychological level of $50K. On the lower side, the nearest support is present at $43.8K and if this level is broken decisively, selling pressure can continue till the level of 42K followed by $40K.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.