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Technical Analysis
Technical analysis is a widely used methodology in the world of cryptocurrencies, encompassing the evaluation of various factors to predict price movements and make informed investment decisions. It involves analyzing historical price data, trading volume, and market trends to identify patterns and trends that may repeat in the future. By utilizing statistical tools and chart patterns, technical analysis aims to provide insights into potential price direction and timing. For individuals involved in the crypto space, technical analysis serves as a valuable tool to understand market sentiment and make informed trading decisions. Companies and protocols within the blockchain networks also employ technical analysis to assess market conditions and optimize their strategies. Moreover, crypto exchanges utilize technical analysis to provide users with comprehensive trading tools and indicators, enabling them to make data-driven decisions.
Bitcoin Struggles at Resistance; Support at $35K
A decisive break above $40,000 is needed to resume the uptrend.
Bitcoin Holds Short-Term Support; Faces Resistance at $40K
BTC re-tested minor support around $30,000 over the weekend, but stronger support is seen around $27,000.
Bitcoin Stabilizes at Support; Faces Resistance at $45K
BTC held support around $30K and upside appears limited towards $45K with high volatility into the weekend.
Bitcoin Remains Under Pressure, Faces Resistance At $45K
Bitcoin sellers remain active as the broader uptrend weakens similar to 2017 and 2018.
Bitcoin Breaks Below $42K; Next Support at $34K as Intermediate Trend Turns Bearish
The next level of support is seen at around $34,000, which could stabilize the sell-off.
Bitcoin Stabilizes at Support; Faces Resistance Around $50K-$53K
BTC continues to consolidate and is now at the bottom of a three-month range.
Bitcoin Holds Support; Faces Resistance at $50K
BTC remains in a consolidation phase after failing to sustain moves above $64,000.
Bitcoin Stabilizes After Sell-Off; Faces Resistance Near $53K
BTC 's price recovery could be limited into the weekend.
Bitcoin Sell-Off Could Stabilize Around $42K Support
BTC remains under pressure and could find lower support near $42K as long-term momentum wanes.
Fairlead's Stockton Warns of Bitcoin Correction to $42K, Based on Technical Analysis
"We are watching $42,000 as support," one analyst said.
