Bitcoin Is Trading At Resistance Zone Of 57000$. Let’s Wait For The Next Move Of Bitcoin, Don’t Open Any New Positions Now
Bitcoin dominance has broken the triangle pattern and is continuing its upward movement. As a result, altcoins are dumping and we may see further declines. There are no signs of weakness, so we can expect further upward movement in Bitcoin dominance. Make sure to set tight stop losses in all open trades.
Market Update By Crypto_with_Faizan The BTCUSDT chart now sees $52,000 as support and $60,000 as resistance. The RSI is around 40, indicating a slightly oversold condition, and the MACD is signaling a bullish crossover. Justice is being done in the skin, which sees strong market interest.
The recent decline in fundamental news has been attributed to the Bank of Japan's interest rate hike and weak US economic data, which is likely to lead to a massive sell-off and a loss of more than $1 billion. Still, institutions like BlackRock and Mukhlis are fairing their bitcoin ETF holdings, which shows long-term confidence. Analysts expect Bitcoin to mirror the price action of March 2020, and if the Federal Reserve cuts interest rates, Bitcoin could rebound.!
Crypto Market Update By Crypto_with_Faizan Pakistan Time: 06:30 PM 1: Bitcoin support levels - $52,000 and $49,000 strong support (this means buyers here). 2: Bitcoin resistance - $55,600 and $58,500 strong resistance (this means if you want to sell here you will sell bitcoin). The market depends on Bitcoin, I have updated you - accordingly, you have to plan yourself and do it with your own funds. ———————————————————————————————— Analysis -
BTC supports at $52,000 and $49,000. Resistance is at $55,600 and $58,500. Be careful while trading and manage your risk according to the mentioned support and resistance levels. The Bitcoin market is very volatile at the moment. Bitcoin fell 19 percent over the weekend due to a selloff in global financial markets, but was down 7 percent after a modest recovery on Monday. The downturn in the global market is due to the state of the US economy. . A weak jobs report and weak manufacturing data have delayed a rate cut by the Federal Reserve, sending panic into markets. It's a tough time for Bitcoin holders, but some experts are optimistic that the selloff is a stopover before future gains. Historical trends also suggest that the market may go into a bullish trend after a sharp decline.
Bitcoin quickly surged past the $50,000 mark, indicating strong buying pressure. However, it then experienced a rapid drop below $50,000, liquidating many trades. This correction was necessary to rebalance the market and clear out one-sided positions. The global markets are also displaying positive signs of recovery, which is likely to be reflected in the crypto market as well.
Market Update 6_August_2024 According to the BTCUSDT chart, the immediate support level is 53,000 USD and the major support is 50,000 USD. The resistance level is at 55,000 USD and the key resistance is at 57,000 USD. The RSI is in the oversold zone, signaling a bounce back. Heikin Ashi candles consistent downtrend dikha rahi hain, lekin RSI ke oversold hone ki wajah se there is also an opportunity for recovery. While the main news is the recent SEC regulations and overall bearish market sentiment, there are also some positive developments such as the adoption of large financial institutions. Looking at all these factors together, there is a possibility of a return to the market in the short term.
Market Update 5_August_2024 BTCUSDT Chart Analysis k mutabiq The bearish trend is significant in the current market. Immediate support is at $50,000 and $47,500 while resistance levels are at $52,500 and $57,500. The RSI is the main oversold zone that suggests a short-term rebound, but the MACD is still confirming a bearish trend. Fundamental news is also negative, with regulatory uncertainty and weak US jobs data weighing on market sentiment. Major exchanges see a lack of investor interest in low volume.
Market update 5_aug_2024 BTCUSDT chart analysis k mutabiq current market bearish trend main hai. Immediate support $50,000 aur $47,500 pe hai jab ke resistance levels $52,500 aur $57,500 hain. RSI oversold zone main hai jo short-term rebound ka chance batata hai, lekin MACD abhi tak bearish trend ko confirm kar raha hai. Fundamental news bhi negative hai, jahan regulatory uncertainties aur weak U.S. job data ne market sentiment ko bearish banaya hai. Major exchanges pe lower volumes investor interest ki kami ko dikhate hain.