Technical Analysis - Indicators signals that BTC Price will continue the downtrend

Based on data compiled by CoinDesk, Bitcoin's spot trading volume across major centralized exchanges remained low on Monday, nowhere near its pre-holiday level. An "absence of trading activity" is likely to be one of the reasons for the overall crypto market's "bearish pullback" over the past week. And since FED in the U.S. in December signaled three interest rate hikes in 2022, and would move faster to wind down its bond purchases in response to elevated inflation pressures, "macro uncertainty" remains the main factor of bitcoin's choppy move.

图片6.png

 

Technical Analysis

As for the forecast for the BTC/USDT for the coming week, it seems that the correction in the BTC/USDT pair will continue. Since the price movement in the last month is in a sideways range, there have been no special changes on the weekly chart over the past few weeks, the price within the correction reached the vertical support line and froze in indecision.

 

On the 4-hour price chart, since here the boundaries of the formed sideways movement over the last month are most clearly visible. We see the emerging support line around $46,000 and the upper border of the channel around $ 52,000. Thus, the price fluctuation range was $ 6,000. A few days ago, the price once again reached the lower boundary of the channel and bounced off it again began to move in a northern direction. At the same time, the RSI indicator left the oversold zone, and a little later the MACD indicator lines crossed, indicating a possible rise in the BTC/USDT.

 

Further, another confirmation that the price may continue to move towards the upper border of the channel is the formed Bullish divergence between the price chart and the RSI and MACD indicators.

 H.png


Look at the daily price chart, we also see that after the next downward jump, the price moves sideways for a rather long time. However, the main trend is still downtrend and there are prerequisites that in the near future the trend continuation is more likely than a reversal.

 

A hidden bearish divergence has formed between the price chart and the RSI and MACD indicators. Such a hidden divergence can be a harbinger of a continuation of the trend, in this case a downtrend.

 

Thus, despite the fact that on the next day or two the price may continue to move upward, it is not a fact that this time it will manage to reach the upper border of the channel. For those who were waiting for the continuation of the downtrend can take advantage of the opportunity to open a short position if the price still starts to decline.

D.png 

 

 

 

 


Demo

もっと練習したいですか? ギフトでデモをお試しください

5000 USDT
連絡します
twitter Telegram

Technical support: [email protected]

リスクメッセージ 同社はお客様に提供する金融商品に対して、差引契約(CFD)やその他の複雑な金融商品を含みます。差引契約は高いリスクを持っています。レバレッジはお客様の資金状況に積極的かつ消極的な影響を与えるかもしれません。差額契約の取引はすべての投資家に適していません。投資資本の完全な損失を招く可能性があります。投資しないでください。耐えられる範囲を超えてください。複雑な金融商品の取引を始める前に、すべてのリスクについて必ず読んでください。

© 2019 Bex500. All rights reserved.

ログイン
Google検証

パスワードを忘れますか? Googleの確認を取り戻す

まだアカウントがありませんか?即時登録
パスワードを取得
60秒後に再取得します
取得
アカウントを登録する
60秒後に再取得します
取得
サービス条項プライバシーポリシー
アカウントがありますか?すぐに登録します