Moving Charts: BTC Value Per Coin Analysis | 10% To @tron-fan-club
Hello everyone and welcome to everyone at Tron Fan Club. To our delight, the market has seen some positive signs over the past few weeks. Throughout the market, there have been uptrends. But a correction and some consolidation became inevitable. And it is no different for BTC as well. So, we saw BTC fluctuate a lot under the strong resistance zone. Today we will look at the price movements of BTC and reflect on where it could go next.
Last week, the King of Cryptocurrencies, BTC was hovering around 63700$ level. BTC was on uptrend for weeks. But these last few weeks were a bit different. BTC tried to go up but failed. Which resulted into BTC's price correction. It fell to 62300$, which is clearly a strong support zone. It bounced several times at that level, after that, it fell.
After getting rejected at the 64800$ zone, BTC lost the support level below. So, BTC fell quickly and came down to 56500$. However, it bounced back in an instant. These moves created a new bullish trendline overtime. After bouncing back at the support level, it eventually started going up. Currently, it clear that BTC needs to hold onto the support level of 62400$ zone that it regained recently. It needs to break 64800$. It is now at 63900$. This is ultimately a 0.5% gain in value over a time span of seven days.
All Screenshots are taken from Coingecko
No words from this article should be taken as financial advice.
Thank You for reading.
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When the price dropped to $56,000, I was like, "What's going on here?" But it quickly rebounded, and as you pointed out, the candles turned green, signaling a bullish trend with spikes. Now hovering around $62,000, I'm optimistic it will climb even higher and break through the resistance level. I hope it climbs higher and break the resistance level.