Bitcoin (BTC) Alarm: Back to Downtrend!
Bitcoin, which has been pricing in a falling trend for two weeks (BTC) broke the structure and tested $ 27,500, the danger signals increased as it re-entered the trend.
Losing value for about 14 days BTCYesterday morning, it broke this structure and tested $ 27,500. But heavy sales this morning BTC It instantly pulled its price to $ 26,500. Currently $26,740 BTC, came to the falling trend structure again. This indicates that selling signals for BTC may increase.
Bitcoin (BTC) Chart Analysis
Priced in the falling trend since $28,200, BTC finally broke this trend and experienced an increase of more than 2 percent. This movement of BTC, which has been losing value for about 14 days, provided a little bit of confidence. BTC, which tested $ 27,500 directly from $ 26,900 with the breaking of the falling trend, entered the trend again with the decline in the morning.
Persistence on the falling trend is the main criterion for the uptrend on the BTC side to continue. The resistance levels for BTC are $28,200 – $28,775 – $29,250 respectively. Engaging in the downtrend can further increase the selling pressure. In this case, it increases the possibility of testing the supports on the BTC side. Support levels for BTC are $25,875 – $25,250, respectively.