Update curtiousy of PAID TRADING (DZ871)
⏩ ⏩ ⏩ Forward
📈 # BTC
Yesterday, the price of Bitcoin fell back to a zero Fibonacci level, which tried to keep the pair from declining all day, but this level was already broken this night.
Daily graph: yesterday the price of the pair BTC-USD broke through the support of the 50th EMA at 6668 and fell below the fast moving average. The next important support will be level 6300 - support of the local upward trend of August 13. The breakthrough of this level initiates the movement to the levels 6100-5780, which already 6 times this year deter the attack of the bears. The closest resistance in the development of the upward movement will be the levels of 6500 and 6666 (50th EMA).
A four-hour chart: punched at the price of the 200th and 50th moving averages. The pair BTC-USD received a bearish impulse and was stopped at the level of 6430-6350, during which trading took place last week before the start of the Friday rally. In front of the bears, a tightly torn back support zone, from which the growth of prices has already habitually begun. Will BTC-USD "feel" annual lows and break with the seventh attempt of support, conditionally determined at 6000 dollars, will show the near future.
The daily chart: the pair BTC-USD broke through the moving averages, the fast 50th is still above the 200th, but already turns down. At the moment, the fall of the pair is stopped, correction is in progress. The main support will be the same level at 6300.
It is important to note that the decline is still taking place within the framework of correction of the local uptrend. Even the re-test of the upper limit of the support area (approximately 6300.00 USD) will not abolish the target level of growth of 6920.
