Technical Analysis Support and Resistance Levels of #BTCđ„đ„ in One Day Chart đŻđŻđŻ
Support: $36,500, $36,000, $35,500
Resistance: $37,500, $38,000, $38,500
Bitcoin is currently trading in a bullish trend, and it is facing resistance at the $37,500 level. If Bitcoin can break through this resistance level, it could continue its upward trend and target the $38,000 and $38,500 levels.
On the downside, Bitcoin has support at the $36,500, $36,000, and $35,500 levels. If Bitcoin falls below the $36,500 level, it could indicate a trend reversal and target the $36,000 and $35,500 levels.
Technical indicators:
Moving averages: The 50-day and 200-day moving averages are both sloping upwards, which is bullish.
MACD: The MACD indicator is above the signal line and the histogram is above zero, which is bullish.
RSI: The RSI indicator is at 65, which is in the overbought zone. However, this does not necessarily mean that a pullback is imminent.
Overall, the technical analysis suggests that Bitcoin is in a bullish trend. However, it is important to note that Bitcoin is a volatile asset, and prices can fluctuate wildly. Traders should always use risk management techniques when trading Bitcoin.
