Bitcoin Chart Analysis - Long position
Hello everyone, after the many fluctuations that we see in the Bitcoin chart in the last few weeks, the important support level of $16,300 was maintained and managed to follow the support line of the trend and reach the price of $16,800.
If it crosses the range of 16,900 and continues the upward trend, it can be hoped that it will rise to its long-term resistance line in the range of 18,000. This upward movement of Bitcoin has also caused an increase in other coins.
On the other hand, if 16,000 is broken down, the upward trend is ruled out and there is a possibility of falling to 15,200.
If it crosses the range of 16,900 and continues the upward trend, it can be hoped that it will rise to its long-term resistance line in the range of 18,000. This upward movement of Bitcoin has also caused an increase in other coins.
On the other hand, if 16,000 is broken down, the upward trend is ruled out and there is a possibility of falling to 15,200.
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