The accumulation process doesn't end in bitcoin!

The accumulation process doesn’t end in bitcoin!

Bitcoin, which continues to trade in the bearish zone (B T c), has not yet produced the expected explosion.

Although the leader of the cryptocurrency, which has been in the same price zone for several days, has tested $29,700 and $29,000, it has not yet moved beyond these values. BTC, which typically finds buyers in the range of $300 and max $700, brings danger as it prolongs the accumulation process. How is the chart progressing for BTC, which has yet to decide its course?

bitcoin (btc) chart rating

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BTC, which made a move towards $29,700 yesterday afternoon, could not withstand the selling pressure and moved below the decision zone. Priced just above the minor support at the moment, if BTC fails to find any buyers at $29,262, the decline can be expected to continue to $28,896 – $28,406 and $28,039 respectively.

A massive break above $29,698 and positive news that could push the market higher will strengthen BTC. The resistance points that can be followed in such a scenario are $30,300 – $30,808 and $31,396 respectively. In particular, the price structure and news flow between $29,500 – $29,700 will be decisive.

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