Market Research
Source: Wisebitcoin 2022-04-29
Update: We remain the same. As can be clearly seen on the chart above, bitcoin would continue to trend downward to reach the uptrend line shown above. There could be active buyers around the uptrend line. Therefore, we could be bearish for now until the price reaches the uptrend line.
| Resistance Levels | Support Levels |
|---|---|
| 50000.00 | 36925.00 |
| 48000.00 | 35000.00 |
| 44000.00 | 34370.00 |
Recommended:
Waiting for the pair to reach the uptrend line.
Update: We remain the same. After a very bearish day (yesterday's trading session), the pair formed a bearish engulfing pattern, indicating further bearishness. Therefore, we are bearish as long as the pair trades below 3000, with targets of 2600 - 2500 or until the pair reaches the uptrend line.
| Resistance Levels | Support Levels |
|---|---|
| 3500.00 | 2600.00 |
| 3200.00 | 2500.00 |
| 3000.00 | 2300.00 |
Recommended:
Bearishness below 3000.
Update: We remain the same. The key level of the week is at 0.6900, which acts as strong resistance as the price trades below this level. As long as the pair trades below the 0.6900 level, we can expect further downside, with targets of: 0.5500 - 0.5100. Please note that the pair is mainly moving towards the suggested targets.
| Resistance Levels | Support Levels |
|---|---|
| 0.8000 | 0.6000 |
| 0.7500 | 0.5500 |
| 0.6900 | 0.5100 |
Recommended:
Bearishness below 0.6900.