RLinda ! BTCUSDT-> Review. False Resistance Breakdown
The U.S. dollar index broke a 20-year record and continues to rise. At the same time, the risk of recession in the U.S. is increasing - all this indicates a deteriorating macroeconomic environment in the world, which is reflected in the reduction of investment opportunities in risky assets by small investors and large hedge funds.
In such situation BTC's ability to keep level of $20000 shows the presence of force, which helps to accumulate in this zone. Most likely, the price will continue to be in the range between 25,000 and 17,000 for a long time.
From the technical analysis point of view, we can see that the price goes back to the retest of 18500 zone and small speculators trying to test the "bottom" with the aim of "getting in the market on time" and trying to buy at a better price, which forms the momentum to the resistance of July 19.
The price is testing the resistance and after a false breakdown we see the price fixing under the strong trend lines. The global trend is bearish, the price is trading in the formed downtrend channel and there is a chance that the fall will continue to 18500, 17610 and may also test the 16188 level.
Regards R. Linda!
In such situation BTC's ability to keep level of $20000 shows the presence of force, which helps to accumulate in this zone. Most likely, the price will continue to be in the range between 25,000 and 17,000 for a long time.
From the technical analysis point of view, we can see that the price goes back to the retest of 18500 zone and small speculators trying to test the "bottom" with the aim of "getting in the market on time" and trying to buy at a better price, which forms the momentum to the resistance of July 19.
The price is testing the resistance and after a false breakdown we see the price fixing under the strong trend lines. The global trend is bearish, the price is trading in the formed downtrend channel and there is a chance that the fall will continue to 18500, 17610 and may also test the 16188 level.
Regards R. Linda!
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