Bitcoin prices began to fall after successive surges

Bitcoin prices began to fall after successive surges

In the past five days, bitcoin prices have risen sharply, breaking through the resistance of $ 7,000, and even broke through the resistance levels of $ 7,200 and $ 7,500. The highest point of the bitcoin price formed after the 7590 US dollars, began to fall sharply, the current bitcoin transaction price fell below the support level of 7,200 US dollars, near the support level of 7,000 US dollars.

Bitcoin prices are moving well and the current trading price is still above $7,000. However, bitcoin prices are now facing strong resistance around $7,150 and $7,160. If bitcoin prices can clearly break through $7,160, they may break through the $7,200 and $7,250 resistance levels in the near term.

Bitcoin prices are now well supported by around $7,000; in addition, a new bullish trend line is formed at the support level of $6,940 on the hourly chart of bitcoin prices. As a result, bitcoin prices are still well supported around $6,950 and $7,000. But if the bitcoin price falls below $6,950, the main support area of ​​$6,700-6,800 may be retested. (answer)

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Twitter Featured | A paper analysis of IEO speculation: "More than half of the bitcoin lost; the longer you take, the worse the loss"

01 LedgerX launches first physical delivery bitcoin futures contract According to Coindesk, LedgerX has officially la...

Blockchain

Market Analysis: BTC stopped falling and rebounded at the 10,000 US dollar mark, and the market turned into a shock stage.

Author | Hash sent analysis team Analyst: Bitcoin will return to $4,300 after skyrocketingApple Smart Watch Introduce...

Blockchain

Bitcoin development has made new progress. Core developers propose to modify the logic of Bitcoin transaction replay to better transaction privacy.

Bitcoin Core developer Amiti Uttarwar is working on modifying Bitcoin's network replay logic to introduce more p...

Market

Overview of DePIN Track: Is it Disruptive Innovation or a "Castle in the Air"?

DePIN is the abbreviation for "Decentralized Network Hardware Infrastructure". The DePIN project uses blockchain netw...

Market

Analyst: Bitcoin has entered a rising short parabola trend, and the price of coins will continue to rise.

Since Bitcoin currently forms a rising parabolic pattern, analysts expect that the price of the currency will likely ...

Blockchain

Russian parliamentary representative: Hold Bitcoin legal, but trade and mine or be fined

The Russian Duma (parliament) representative may have finally given some clear explanations for the cryptocurrency, a...