Bitcoin Präis Preparéiert säin nächste Beweegung bannent dësem Chartmuster

The Bitcoin technical chart showcased a roller coaster ride as prices took a V-top reversal during Mid August and dumped back to 2022 bottom support of $18000. Moreover, over the last weeks, the crypto market suffered due to unfavorable news such as High CPI data, Fed interest hike, An der U.S. dollar index(DXY) rise to a 20-year high. As a result, the market participants’ fear of further downfall has increased.

Schlësselpunkte vun der Bitcoin Präisanalyse:

• Bitcoin Fear & Greed Index has dropped to 24%, signaling extreme fear among market participants. 
• Interesséiert Händler sollten op de Bitcoin Präis waarden fir d'Dräilännereck Muster Barrièren ze briechen ier se hir Fongen positionéieren.
• Den intraday Handelsvolumen an Bitcoin ass $ 22.6 Milliarde, wat e Verloscht vun 35% ugeet.

Quelltext-Tradingview

The Bitcoin retested the bottom support zone at $$18200-18000 on September 19th. However, even a week has nearly passed, the BTC price is still wavering around this support. This consolidation indicates uncertainty in market participants.

Anyhow, the 4-hour time frame chart reflects this consolidation as the formation of a e symmetreschen Dreieckmuster. In theory, this pattern usually resumes the prevailing trend after a short period of break; however, a breakout on the other side is quite possible.

Today, the Bitcoin price is trading at the $19062 mark and shows a 0.7 intraday gain. Furthermore, the two convergence trendlines have narrowed the prices enough to be considered a no-trading zone.

Therefore, a breakdown below the support trendline will intensify the ongoing bearish trend and plunge the Bitcoin price below the $18000 mark.

On a contrary note, a candle closing above the resistance trendline will signal an early sign of bullish reversal. As a result, the coin holders may witness another upswing.

Technesch Indicator

RSI: Contrary to the sideways price action, the rising RSI slope indicates growth in underlying bullishness. Moreover, this positive divergence encourages a bullish breakout from the triangle pattern.

EMAs: the downsloping crucial EMAs(20, 50, 100, and 200) indicate any potential rally would face multiple resistance on its way up.

• Resistenzniveau - $ 19600 an $ 20600
• Ënnerstëtzung Niveau- $ 18000 an $ 16500