empty
 
 
11.05.2022 07:10 PM
Bitcoin reaches major support zone

Bitcoin plunged in the short term and now it is challenging a major demand area. The bias remains bearish, so it remains to see how the price will react. It was trading at 30,665 at the time of writing above today's low of 29,011.

It has dropped by 11.15% from 32,650 yesterday's high to today's low. In the last 24 hours, BTC/USD is down by 2.02% and by 21.84% in the last 7 days. Bitcoin's sell-off forced the altcoins to drop.

BTC/USD False Breakdown!

This image is no longer relevant

BTC/USD rebounded by it has found strong resistance at the weekly S1 (31,807) and now it pressures the 30,261 static support. As you can see, the price registered only false breakdowns below this level and through the lower median line (LML) of the descending pitchfork.

As long as it stays above the lower median line (LML), BTC/USD could still rebound. 28,800 is seen as critical support. Technically, after its massive drop, a rebound is in the cards, but don't forget that the bearish pressure remains high as long as it stays under the 32,967 key level.

BTC/USD Outlook!

A valid breakdown below the lower median line (LML) and through the 28,800 could activate a larger drop.

Staying above the LML and above 28,800 could signal a potential rebound in the short term.

Dapatkan keuntungan dari perubahan nilai mata uang kripto dengan InstaForex.
Unduh MetaTrader 4 dan buka perdagangan pertama Anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    GABUNG KONTES
  • Chancy Deposit
    Isi akun Anda sebesar $3000 dan dapatkan $5000 lebih banyak!
    Pada November kami mengundi $5000 dalam promo Chancy Deposit!
    Dapatkan kesempatan untuk menang dengan melakukan deposit sebesar $3000 pada akun trading Anda. Setelah memenuhi persyaratan ini, Anda telah menjadi partisipan promo.
    GABUNG KONTES
  • Trade Wise, Win Device
    Top up akun anda dengan dana minimal $500, daftar kontes, dan dapatkan peluang untuk memenangkan perangkat seluler.
    GABUNG KONTES
  • 100% Bonus
    Kesempatan langka untuk mendapatkan bonus 100% pada deposit anda
    DAPATKAN BONUS
  • 55% Bonus
    Ajukan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • 30% Bonus
    Raih bonus 30% setiap kali anda top up
    DAPATKAN BONUS

Artikel yang direkomendasikan

Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.
Widget callback