During the past week, Bitcoin faced intensive volatility led by the headlines that Russia invades Ukraine on Thursday. The news forced BTC to drop straight from $39K to around $34K. However, buyers at lower levels gave a push back in no time. This further led to the testing of EMA-20 ($39,600) which went unsuccessful as investors are looking for relevant exists around the psychological mark of $40K. Currently, the price level is forming a temporary support zone of around $36.5K. Further, we can expect the price to move within the range drawn on the chart.
MACD levels indicate further selling pressure on BTC in the upcoming trading sessions. The levels have faced a bearish crossover and currently forming red bars on the histogram.
Overall, the price momentum for this week will be much dependent on the developments around global factors including the Russia-Ukraine conflict. Considering the technical side, BTC is having support at $36,500 followed by $34,500., resistance levels are placed at $40K and $42K respectively.
MACD levels indicate further selling pressure on BTC in the upcoming trading sessions. The levels have faced a bearish crossover and currently forming red bars on the histogram.
Overall, the price momentum for this week will be much dependent on the developments around global factors including the Russia-Ukraine conflict. Considering the technical side, BTC is having support at $36,500 followed by $34,500., resistance levels are placed at $40K and $42K respectively.