$BTC ๐๐๐ฅ๐ฅ๐ฅโ๐จ Urgent update on Bitcoin BTC: Will it manage to hold the 58,300$ levels? ๐๐ฅ
Hello everyone, we are following together the current moment-by-moment movement of Bitcoin, which shows temporary selling pressure:
โCurrent situation: The price is trading at 58,356.00$ after dropping from a nearby recent peak at 58,605.99$.
โInstant support levels: Bitcoin has recently bounced off the local low at 58,241.79$. As long as the price holds above the 58,200$ levels, there is a chance to form a new launch base.
โTechnical indicators: The Stochastic RSI is giving a reading of 36.90 and is heading downward, while the price is trying to break above the nearby moving average (MA7 and MA25) to regain bullish momentum.
โ๐ฏ Expected scenario:
โIn case of upside: We need a candle to close firmly above 58,400$ in order to re-target resistance at 58,600$.
โIn case of downside: A break of the 58,241$ support may open the door to testing the 58,000$ levels.
โ๐ฌ Engagement question (to increase comments and likes):
โWhat are your expectations for the coming hourly candle(s)? Will we see a quick return above 59,000$ or will the drop continue to liquidate positions? Share your view in the comments! ๐๐
โ#BTC #Bitcoinโ oin #Crypto_Jobs๐ฏ Market #TerraLabs chnicalAnalysis #BinanceSquare
Hello everyone, we are following together the current moment-by-moment movement of Bitcoin, which shows temporary selling pressure:
โCurrent situation: The price is trading at 58,356.00$ after dropping from a nearby recent peak at 58,605.99$.
โInstant support levels: Bitcoin has recently bounced off the local low at 58,241.79$. As long as the price holds above the 58,200$ levels, there is a chance to form a new launch base.
โTechnical indicators: The Stochastic RSI is giving a reading of 36.90 and is heading downward, while the price is trying to break above the nearby moving average (MA7 and MA25) to regain bullish momentum.
โ๐ฏ Expected scenario:
โIn case of upside: We need a candle to close firmly above 58,400$ in order to re-target resistance at 58,600$.
โIn case of downside: A break of the 58,241$ support may open the door to testing the 58,000$ levels.
โ๐ฌ Engagement question (to increase comments and likes):
โWhat are your expectations for the coming hourly candle(s)? Will we see a quick return above 59,000$ or will the drop continue to liquidate positions? Share your view in the comments! ๐๐
โ#BTC #Bitcoinโ oin #Crypto_Jobs๐ฏ Market #TerraLabs chnicalAnalysis #BinanceSquare