240 Minute BTCUSD shows the digital currency hit a daily low at $4,091. It loses the support level of $4,400 and will probably continue to drop to the next support at $3,920. Below this level of support, the next level at $3,250 would mean an additional 20% drop.
Above the current price, the 1st target at $4,400. The 2nd resistance is at $4,922. The 3rd resistance at $5,330 (price congestion resistance and long-term bear channel base) is strategic. Recapturing it would return the BTCUSD to a more favourable long-term scenario.
MACD at 240 Minutes continues to cross up despite today's falls. The profile is surprisingly favourable to price hikes. It does not show a remarkable increase in bear activity. The bulls do diminish their strength a little more and seem convinced that the time has not come to get going.
Above the current price, the 1st target at $4,400. The 2nd resistance is at $4,922. The 3rd resistance at $5,330 (price congestion resistance and long-term bear channel base) is strategic. Recapturing it would return the BTCUSD to a more favourable long-term scenario.
MACD at 240 Minutes continues to cross up despite today's falls. The profile is surprisingly favourable to price hikes. It does not show a remarkable increase in bear activity. The bulls do diminish their strength a little more and seem convinced that the time has not come to get going.