Bitcoin Price Weekly Analysis –BTC/USD Remains Under Pressure

Key Points

  • Bitcoin cost changed reduce this past week and remained underneath a lot of bearish vigour contra a US Dollar.
  • There was a essential support trend line shaped on a 4-hours draft (data feed from SimpleFX) of BTC/USD, that was damaged during a downside move.
  • The cost traded as low as $560 and it looks like a bulls might continue to struggle.

Bitcoin cost enervated a lot during a past week opposite a USD. Going forward, it might continue to trade reduce towards $550.

Bitcoin Price Resistance

Bitcoin cost pennyless down this past week opposite a US Dollar, and posted losses. During a downside move, a BTC/USD span pennyless a integrate of critical support levels including $575. Moreover, there was a essential support trend line shaped on a 4-hours draft (data feed from SimpleFX) of BTC/USD. The BTC sellers managed to benefit movement and took a span reduce towards a $560 level.

The span is now attempting to scold higher. However, it is anticipating sellers nearby a damaged trend line, that was a support progressing and now behaving as a resistance. On a upside, a subsequent jump is around a 23.6% Fib retracement turn of a final dump from a $592 high to $561



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