Today we will do a technical analysis of Bitcoin. Bitcoin is the primary cryptocurrency of cryptocurrencies. Bitcoin is now bullish Bitcoin markets have tumbled over the past few days, hitting support and returning to resistance. If the market hits the resistance at 21590 and falls, it will reach the support at 19837, and if it breaks the market resistance, it will move to the next resistance. If the market breaks the resistance level, which becomes its support level, this will be its next level. If the market pulls back after encountering resistance, it will reach the support level, and if it falls below the support level, the next support level will be 1866. We will do a lot with this market on the M30 timeframe chart.
The MT30 time frame is the time frame in which trades are completed within a brief period. This type of trading is known as scalping, where we split our small profits and exit the market. The 100-day simple moving average is below the market, and the 150-day simple moving average is below the market. The 100-day and 150-day simple moving averages are currently located between the support and resistance levels of the market. If we look at the trend line on this chart, the market is rising by hitting the trend line repeatedly. If the market breaks the resistance of its trendline, it will fall, and if the market breaks the resistance of the trend line and does not break the distance of the trend line, the market will rise.
RSI Indicator: 14 value
100-day: simple moving average.
150-day simple moving average
resistance level: 21590
support level: 19837
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