BTC crucial Zone

23 ביולי 2022

Many Things to notice in BTC for coming week as there is gonna be FOMC Statement and Fed Funds Rates market will be volatile

Things to consider before taking a trade in BTC

• RSI is in uptrend since 18th June in 1D Timeframe
  
• BTC is being consolidating within a range as shown
  
• Formed a Double Bottom but didn't made a breakout as expected
  
• In 4H Timeframe Volume is being decreasing
  
• MACD is showing a Double Bottom
  

Also in USDT dominance

*Forming a downtrend in RSI with LL LH
*IF it break down more till 5.85%, we might see a rally in BTC in between the 100 and 200 EMA

Conclusion
If the Breakout Fails in BTC the next probable support seems to be 17000-16000 zone which was the 2018 ATH