Bitcoin Support Levels Analysis
Current Price: $67,077.11 (-0.56%)
As we anticipate a potential drop in Bitcoin's price, let’s analyze its key support levels using various methods based on historical highs and lows.
Support Levels Based on Recent Price Movements
From the Up-Move (5 August to 21 October):
1. $56,879
2. $44,311
3. $36,542
From the Low on 17 August 2023 to March 2024 High:
1. $55,041
2. $43,492
3. $35,271
These levels are quite consistent, reflecting strong price points to watch.
Moving Averages (Daily and Weekly):
EMA377 Daily: $55,282
EMA55 Weekly: $55,567
EMA144 Weekly: $43,479
MA200 Weekly: $40,402
EMA233 Weekly: $36,731
EMA377 Weekly: $28,903
Bullish Cycle Support Levels (November 2022 to March 2024):
1. $51,477
2. $44,602
3. $37,727
4. $27,938
Conclusion
The main support levels are clustered around $55K, $43K, and $36K. These numbers reflect various extraction methods and indicate crucial price points.
What are your thoughts? Do you agree with these levels? How far do you think Bitcoin might drop?
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Namaste.
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