Hello everyone, I am Eleven. A new week has begun, so today we will review the market conditions over the weekend.
At the critical moment when Bitcoin BTC is about to close its weekly line, Eleven believes that if Bitcoin BTC closes below 30,000 US dollars on the monthly line, it will face a severe challenge.
But we can see that the closing line at 8 o'clock this morning shows that the price of Bitcoin has reached 34,590 US dollars, and the weekly closing line also performed well. So in the countdown to the closing of the monthly line of Bitcoin, do you think it will be bearish or bullish next?
Using the relative strength index (RSI), moving weighted average (MWA), Williams fractal and moving average convergence divergence (MACD) in the above figure, we can determine the price pattern of Bitcoin BTC to determine its future direction.
Bitcoin BTC is about to usher in the closing of the monthly K-line. Eleven reminds you that there is not much time left for the air force. In addition, in Eleven's opinion, if Bitcoin is to fall by 4,000 points within 48 hours, it will still be very difficult.
BTC latest analysis
At 11 am this morning, we found that Bitcoin had a round of correction after the early closing. Technical indicators showed that it was above the large channel and the bullish and bearish dividing line. The support level of the large channel was around US$34,000.
Eleven believes that the decline of Bitcoin during the day today should not be too large. However, market sentiment fluctuates greatly, so Eleven speculates that there is a high probability of a rebound in the future. You can continue to pay attention to the latest market trends later.
If you have any questions, you can ask me directly. As long as it is something I know, I will tell you everything!
