Weekly analysis of the bitcoin course. 19-25.02 #1

Let's talk about the bitcoin course. Last week, it fell below $ 10,000 after the support of the upward trend line broke through at $ 10,350. The BTC / USD pair will have to hold above $ 9,300 and $ 9,000 in order to avoid further decline.

Last week, there was an increase in pressure on the bitcoin rate. The course began to fall. 23.6% of the Fibonacci retracement from a minimum of $ 8,250 to a maximum of $ 11,650.

After that, there was a drop below $ 9,400, skipping the support of a simple moving average for 100 days on a 4-hour chart. Also, the 50% Fibonacci retracement line was broken from a minimum of $ 8,250 to a maximum of $ 11,650, thereby leading to a further drop below $ 10,000. On the other hand, support was formed at $ 9,350. If this line is broken, the rate will drop below $ 9 000.

To return to the bullish zone, the bitcoin course will need to break through the resistance at $ 10,000.

The convergence / divergence of moving averages (MACD) is now in the bearish zone. The relative strength index (RSI) is below 50.

The main support line is $ 9,350, resistance is $ 10,000.