Bitcoin ready to test new lows in 4H chart
Hi, guys, another eventless week begins as Bitcoin price continue its sideway downtrend.
Price prospect looks gloomy in 4H chart, slowly drifting down to $7,000, no buying or selling movement emerging, a sign that the bear market aggravates.
Technical pictures indicate even bleaker at the moment. $7,000 may sit as resistance because in the thousands integer always attract some buying force, but the trading volume is meager. Therefore, there's a high likelihood that bear would push the price below $7,000 soon.
horizontal support 1: 6850
horizontal support 2: 6600
Price has stayed below pivot point which is around $7250 for a few days, a bearish sign.
Moving average both 200 and 50 are clearly tilting down.
Price prospect looks gloomy in 4H chart, slowly drifting down to $7,000, no buying or selling movement emerging, a sign that the bear market aggravates.
Technical pictures indicate even bleaker at the moment. $7,000 may sit as resistance because in the thousands integer always attract some buying force, but the trading volume is meager. Therefore, there's a high likelihood that bear would push the price below $7,000 soon.
horizontal support 1: 6850
horizontal support 2: 6600
Price has stayed below pivot point which is around $7250 for a few days, a bearish sign.
Moving average both 200 and 50 are clearly tilting down.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.