Bitcoin will less possible to go below $7,000 this year
The US-Iraq conflict seems to be intensifying. BTC broke through the important pressure of $7,600-$7,800 under the event-driven situation and will face resistance of $8,000-$8,200. The first thing to do is to understand the nature of the event, whether it is global or local, and the timeliness of the event. If you do not understand these two points blindly chase up or down, it is easy to make chaos. Therefore, we still have to deal with it calmly, especially those investments with relatively low positions. I believe that after the impulse will definitely return to peace, it is inevitable to step back.
If it can stand firm at $ 7,500-$7,600, the market outlook is worth looking forward to.
At the 4-hour level, a surge in the price of the currency directly rushed to the $8,000 line and then rebounded to the $7,850 line. The current currency price is under pressure from the upper line of the Bollinger Band. The cross of MA10 combined with the upward opening also extends upward, and the Bollinger Bands are curved upward, which means that the bulls are strong.
After looking at the Bollinger Bands pattern, it is obvious that it will open up for 4 hours. If there is no big news, it should be difficult to get down. Then we will focus on the resistance of the 8000 line. In the indicator: MACD double line is above the zero axis and up Running, there is room for the bulls to continue to extend upwards, and the kdj and RSI indicators are running upwards, indicating that at this moment the bulls want to continue to break through.
Trading Suggestion: Support: 7800-7600, Resistance: 8000-8300
If it can stand firm at $ 7,500-$7,600, the market outlook is worth looking forward to.
At the 4-hour level, a surge in the price of the currency directly rushed to the $8,000 line and then rebounded to the $7,850 line. The current currency price is under pressure from the upper line of the Bollinger Band. The cross of MA10 combined with the upward opening also extends upward, and the Bollinger Bands are curved upward, which means that the bulls are strong.
After looking at the Bollinger Bands pattern, it is obvious that it will open up for 4 hours. If there is no big news, it should be difficult to get down. Then we will focus on the resistance of the 8000 line. In the indicator: MACD double line is above the zero axis and up Running, there is room for the bulls to continue to extend upwards, and the kdj and RSI indicators are running upwards, indicating that at this moment the bulls want to continue to break through.
Trading Suggestion: Support: 7800-7600, Resistance: 8000-8300
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.