Bitcoin Price Analysis: Selling Pressure Leaves Macro Level Untested

Bitcoin Price Analysis: Selling Pressure Leaves Macro Level Untested | Bitcoin Magazine

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Bitcoin Price Analysis: Selling Pressure Leaves Macro Level Untested

by Bitcoin Schmitcoin
Bitcoin Price Analysis: Selling Pressure Leaves Macro Level Untested 1
Bitcoin Price Analysis: Selling Pressure Leaves Macro Level Untested

[youtube https://www.youtube.com/watch?v=50XYlTbFpm0?feature=oembed&w=480&h=270]

Summary:

  1. The bullish market structure that we have established over the last couple of weeks remains intact, despite the strong round of selling that the bitcoin market saw a couple of days ago.
  2. The weekly 50 exponential moving average (EMA) is currently in the process of being tested but the market has been unable to close a weekly candle above it.
  3. The intraday levels have shown support following the round of selling.
  4. If the current levels do not hold, we can expect to see a test of the $4,700s as we haven’t tested its support following our strong breakout.

Trading and investing in digital assets like bitcoin is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Inc sites do not necessarily reflect the opinion of BTC Inc and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

2019 BTC Inc.
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E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
--- --- --- ---
--- --- --- ---
--- --- --- ---
USD Coin0.9989 0.16 % 0.08 % 0.04 %
--- --- --- ---
--- --- --- ---
--- --- --- ---
Cardano0.9566 0.22 % 0.68 % 6.96 %
--- --- --- ---
--- --- --- ---

bitcoin
Bitcoin (BTC) $ 29,015.00
ethereum
Ethereum (ETH) $ 1,785.96
tether
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usd-coin
USD Coin (USDC) $ 1.00
bnb
BNB (BNB) $ 304.19
xrp
XRP (XRP) $ 0.38585
binance-usd
Binance USD (BUSD) $ 1.00
cardano
Cardano (ADA) $ 0.461587
solana
Solana (SOL) $ 42.08
dogecoin
Dogecoin (DOGE) $ 0.082104