Volatility has been increased as price approached their previous lows again. The U.S. stock market did not open yesterday, and the 3-day holidays made the bulls recover. However, it should be noted that the recent 3-day holidays were on Jun.20 and May.30, also showed a sign of rebound at that time. At present, high-inflation is hitting demand, and the weakness of capital is still continuous. The process of deleveraging has also push many lending and asset management companies to the edge of a cliff. The macro level is not optimistic.
The volatility of BTC has been increased in the last week. Before Thursday, the price fell to the previous low, and then rose above the subprime support level again, and fell again at the weekend. The price rose up yesterday, covering several days of declines. The current price is close to that on last recap, and the overall weekly trend is fluctuation. In terms of details, since it was close to the previous low, the bulls made a strong reaction, but from the perspective of the lack of trading volume and the combination of the candles, the bullish power is not active. The advantage is biased towards the bears. Another point is that although it has been a long time ago, the price is approaching the lower rail of the yellow zone again, and there will be resistance here.
Conclusion: Mostly fluctuation, and there is a certain possibility of falling. We believe that the fluctuation is based on the fact that there is no significant gap in the strength of the bulls and the bears, and why we think that there is a certain possibility of a decline is due to the lack of initiative of the bulls and the more bearish on the larger level. We have maintained the support level at 17800 and the resistance level at 21700. And give this week's subprime support level at 18900.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
The volatility of BTC has been increased in the last week. Before Thursday, the price fell to the previous low, and then rose above the subprime support level again, and fell again at the weekend. The price rose up yesterday, covering several days of declines. The current price is close to that on last recap, and the overall weekly trend is fluctuation. In terms of details, since it was close to the previous low, the bulls made a strong reaction, but from the perspective of the lack of trading volume and the combination of the candles, the bullish power is not active. The advantage is biased towards the bears. Another point is that although it has been a long time ago, the price is approaching the lower rail of the yellow zone again, and there will be resistance here.
Conclusion: Mostly fluctuation, and there is a certain possibility of falling. We believe that the fluctuation is based on the fact that there is no significant gap in the strength of the bulls and the bears, and why we think that there is a certain possibility of a decline is due to the lack of initiative of the bulls and the more bearish on the larger level. We have maintained the support level at 17800 and the resistance level at 21700. And give this week's subprime support level at 18900.
If you have any ideas, welcome to communicate with us:)
Disclaimer: Nothing in the script constitutes investment advice. The script objectively expounded the market situation and should not be construed as an offer to sell or an invitation to buy any cryptocurrencies.
Any decisions made based on the information contained in the script are your sole responsibility. Any investments made or to be made shall be with your independent analyses based on your financial situation and objectives.
