Bitcoin Price Supported by 100-Day Moving Average
There was mini support line on Bitcoin price chart. Even Bitcoin price broke down 81,5K USD, I tried to reverse up and It resisted by old support level as a resistance. After retesting this resistance, Bitcoin price went down fast. I shared a few analysis about Bitcoin price chart and said 100-day moving average would be the new support level on Bitcoin price chart and It happened. Bitcoin price touched this support level.
Here you can see daily chart of Bitcoin price. Even Bitcoin price breaks down 100-day moving average, 200-day moving average is following Bitcoin price. If Bitcoin price breaks down 100-Day Moving Average, 75K USD level is the next support level. 200-day moving average is also close the this support level. It may be hard to break down these major support levels.
Here you can see the indicators on daily chart of Bitcoin price. There is great downtrend line on RSI Indicator. It will continue to resist Bitcoin price. Fisher Indicator is close to the bottom and trying to reverse up. MACD Indicator is also trying to reverse up. It may be so possible to be supported by these major support levels. It may be hard to break them.
After touching possible 75K USD level, we should make a new analysis with the days conditions. Bitcoin price should stay above 200-day moving average.
We will see..
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That 100-day moving average really held up like you predicted. I am keeping an eye on that 75K level too since the 200-day is right there behind it.
El detalle de que el RSI tenga esa downtrend line tan marcada es lo que me hace dudar, xq si sigue resistiendo el rebote en 100-day se queda corto. Viendo el chart, el 75K con el 200-day tan cerca parece el nivel real a vigilar.
La ruptura de 81,5K y el rechazo en la vieja zona de soporte convertida en resistencia encaja con lo que muestra el volumen. Ojo con ese RSI, la downtrend line viene frenando cada rebote y todavía no hay señal de acumulación clara on-chain. Si pierde la 100-day, los 75K con la 200-day pegada son el nivel a vigilar.
Great analysis! The 100-day moving average is definitely an important level to watch. If it fails to hold, the $75K zone could be the next key test. The 200-day MA will be interesting to watch too. Thanks for sharing your insights! 📊