Bitcoin Seeks Support After Drop: 1H Chart Analysis
In this 1-hour Bitcoin chart, we see a downward trend that has pushed the price to the $67,000 range, with potential support around $65,000. The exponential moving averages (EMA) at $68,186 and $67,674 are positioned above the current price, signaling continued selling pressure. However, a short-term rebound may occur, with the price possibly reaching around $66,500 before attempting a stronger recovery.
This is not investment advice, and I could be wrong in my analysis.
This is not investment advice, and I could be wrong in my analysis.
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In this 4-hour Bitcoin chart, it's possible that the price might not drop all the way to the marked zone around $66,000. This is suggested by the rejection of the 45-period EMA (Exponential Moving Average), which has acted as a dynamic support in this time frame. The price seems to be respecting this EMA level around $67,824, indicating a potential upward movement if buyers step in. The rejection of this EMA shows that the market may still hold above this level, preventing further decline in the short term.
As always, this is not financial advice, and I could be wrong in my analysis.
Trade closed: target reached
BTC has reached the 70k
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.