Bitcoin has faced further pressure from everything around it. The combination of lower stock markets, higher US yields, and a rising dollar all conspired to swallow it down. The price dropped to 33,267 a while ago and so far the rebound from that low is inconclusive. There isn't much in the way of support on this side of 30k, other than the January 24 low of 32,970. Well, that price point hasn't been tested yet, but the price action suggests it may be at some point today if prevailing conditions remain as they are. But 6 continuous weeks of decline are really a lot.
As usual, I report the weekly levels to be observed and the levels for intraday trading:
For the interpretation of the levels and the construction of the excel sheet that I always publish, and my trading method, you can consult the book in Italian and English: https://www.amazon.it/dp/B09QRXJCDQ https://www.amazon.com/dp/B09RHH9PVH
To buy only the excel sheets contact me: [email protected]
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This article does not contain investment advice. Every investment and trading move carries a risk, readers should conduct their own research when making a decision.
THE OPINIONS EXPRESSED BY THE AUTHOR ARE FOR INFORMATION PURPOSES ONLY AND DO NOT CONSTITUTE FINANCIAL, INVESTMENT OR OTHER ADVICE.
Graphic: tradingview.com
