BTC/USD - Weekly Overview
For the past week, Bitcoin faced the wrath of bears as it slipped below the crucial psychological mark of 20K. It has registered a new 52-week low of around $17,500 on the charts. A figure that is not wished by anyone.
However, there has been a positive bounceback since then. We are witnessing a potential bullish crossover in the MACD which could possibly hint of more positive momentum ahead. The price level is also looking to develop sustainability above MA-10.
On the contrary, if we face profit booking momentum again, support levels can be placed at 20K and 18K. However, if the ongoing positive momentum is sustained, the world’s largest cryptocurrency can face resistance at 22K and 24K respectively.
However, there has been a positive bounceback since then. We are witnessing a potential bullish crossover in the MACD which could possibly hint of more positive momentum ahead. The price level is also looking to develop sustainability above MA-10.
On the contrary, if we face profit booking momentum again, support levels can be placed at 20K and 18K. However, if the ongoing positive momentum is sustained, the world’s largest cryptocurrency can face resistance at 22K and 24K respectively.
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