๐จ๐จ๐ณ๐ณ๐ณ$BTC Now update ๐ณ๐ณ๐จ๐จ๐จAct Wisley
Support and Resistance Levels
Support Levels:
1. 66,527- This is the 7-day moving average (MA) shown on the chart.
2. 64,479- This is a recent low observed on the chart.
3. 60,733 - This is the 99-day moving average (MA) and also a previous support level.
Resistance Levels:
1. 67,664- This is the 24-hour high.
2. 68,167 -This is a recent high observed on the chart.
Bullish Trends
- The price is currently above the 7-day, 25-day, and 99-day moving averages, which generally indicates a bullish trend.
- The moving averages are all sloping upwards, suggesting ongoing upward momentum.
- The recent candles show higher highs and higher lows, which is a classic indicator of a bullish trend.
Bearish Trends
- If the price fails to break above the resistance level of 67,664, it may indicate a potential bearish reversal.
- A significant drop below the support level of 66,527 could signal the start of a bearish trend.
- The volume has decreased compared to previous highs, which can sometimes precede a bearish move if the buying pressure diminishes.
Overall Analysis
Currently, the chart exhibits a bullish trend, but caution is advised as the price approaches resistance levels. Monitoring the volume and price action around these key support and resistance levels will be crucial to anticipate the next move.
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