The price of Bitcoin (BTC) is in a downward correction as the largest cryptocurrency has fallen above the $29,346 support level.
On May 31, buyers pushed the cryptocurrency to a high of $32,407, but failed to sustain the bullish momentum above the recent high. Since May 15, the bulls have failed to break above the overriding resistance of $32,000.
Bitcoin could rally to the psychological level of $40,000 if the current resistance is broken. Today, the BTC price is trading above the $29,346 support. Bitcoin is also above the 21-day line SMA and the 50-day line SMA. If the bears break the current support, the market will fall to the low of $26,591. If the current support holds, the BTC price will fluctuate between the moving average lines.
ការអានសូចនាករ Bitcoin
Bitcoin is above the 21-day line SMA, but below the 50-day line SMA. This indicates that the cryptocurrency will continue to fluctuate between the moving averages for a few more days. In the meantime, Bitcoin is below the 40% area of the daily stochastic. The market is in a bearish momentum, but it has eased.
សូចនាករបច្ចេកទេស:
កំរិតធន់ទ្រាំសំខាន់ៗ - ១៨០ ដុល្លារនិង ១៦០ ដុល្លារ
កំរិតគាំទ្រសំខាន់ៗ - ១៤០ ដុល្លារនិង ១២០ ដុល្លារ
តើអ្វីជាទិសដៅបន្ទាប់សម្រាប់ BTC?
Bitcoin is in a downtrend as it fails to break above the overriding resistance level of $32,000. The cryptocurrency is fluctuating above the $29,000 support. Bitcoin will continue to fall if the current support is broken. Meanwhile, on May 12 downtrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement suggests that Bitcoin will continue to fall to 1,272 Fibonacci extensions or $24,831.79. The analysis of the Fibonacci tool will be confirmed if the previous low is breached.
ការបដិសេធ។ ការវិភាគ និងការព្យាករណ៍នេះគឺជាគំនិតផ្ទាល់ខ្លួនរបស់អ្នកនិពន្ធ ហើយមិនមែនជាការណែនាំដើម្បីទិញ ឬលក់រូបិយប័ណ្ណគ្រីបតូ ហើយមិនគួរត្រូវបានចាត់ទុកថាជាការយល់ព្រមដោយ CoinIdol នោះទេ។ អ្នកអានគួរតែធ្វើការស្រាវជ្រាវរបស់ពួកគេមុនពេលវិនិយោគមូលនិធិ។
Source: https://coinidol.com/bitcoin-faces-resistance-32000/