Bitcoin Continues Its Fall Movement! Current BTC Analysis
When Bitcoin's 8-hour chart is examined, the downward trend continues.
According to Coinotag analysts, Bitcoin must overcome the $66,700 – $65,800 resistance zone.
It is stated that if BTC loses the $62,300 support, it may continue its decline to the $61,200 level.
When Bitcoin's 8-hour technical chart is examined, it is stated that the downward trend continues and as long as the price remains below certain support levels, the downward trend continues.
MEDIUM TERM BTC ANALYSIS
When Bitcoin's 8-hour technical chart is examined, the downward movement continues as stated in the previous shared analysis. BTC price may continue its decline as long as it remains below the green zone specified in the analysis.
According to Coinotag analysts, Bitcoin should rise above the intermediate resistance area between $66,700 and $65,800 mentioned in the analysis. If BTC cannot make candle closes above the green zone in the analysis, it will increase the downtrend.
BTC price may continue its downtrend until the $62,910 – $62,300 support zone, as mentioned in the previous analysis. However, if the BTC price encounters strong buying reactions from the specified support level, it may start the uptrend again.
If BTC price loses the $62,300 support, it is expected to continue its decline to $61,200 levels. However, BTC price should not make daily candle closes below $61,200. If there is a daily candle close below $61,200, the downtrend could continue.
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