Hi Readers,
There is a super interesting news is on with Bitcoin!
The reserves of the Bitcoin in the Crypto Exchanges are coming down.
The Bitcoin prices were raised in the earlier days when the reserves are coming down.
This is because of the low level of exchange liquidity for Bitcoin.
Due to this either the price of the BTC may pump or dump. Even one can turn things around with a huge investment due to this Supply Shock which currently BTC heads to.
The technicalities of the BTC
- BTC trades around 39K USD mark.
- The RSA is with the mid range.
- The S. RSA is with the overbought region.
- BTC trades in the 38K-39K USD Range in the lower region.
- If it slips below 38K, 35K would act as a strong support.
- If it moves upwards, it may touch 48K-50K range.
The one day technical analysis of the BTC according to Trading View as follows:
