BITCOIN - Technical Analysis
Updated
On a 4-hour timeframe, Bitcoin hit a support level of $ 36,500 supported by the Bulls and was able to grow by nearly 5%. This support range appears to be stronger than previous supports.
If the price can build in the same range, the probability of short-term growth of bitcoin will be stronger. The first hurdle in the way of bitcoin is the significant $ 40,000 resistance that was recently broken, causing devastating losses for the market.
But if Bitcoin falls outside that range again, Bitcoin may lose the current support of $ 36,200 and $ 35,500. In that case, the closest bitcoin support would be in the $ 34,000 range.
If the price can build in the same range, the probability of short-term growth of bitcoin will be stronger. The first hurdle in the way of bitcoin is the significant $ 40,000 resistance that was recently broken, causing devastating losses for the market.
But if Bitcoin falls outside that range again, Bitcoin may lose the current support of $ 36,200 and $ 35,500. In that case, the closest bitcoin support would be in the $ 34,000 range.
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