Market Research
Source: Wisebitcoin 2022-05-12
Update: No changes! As can be clearly seen on the chart above, Bitcoin has reached a strong support level that is 29000. There could be active buyers around that level. Therefore, we could be bullish as long as the pair is trading above it with targets of 34000 – 36000. On the other hand, a close below 29000 would push the pair downwards so that it might reach 27500 – 26263.
| Resistance Levels | Support Levels |
|---|---|
| 40000.00 | 29000.00 |
| 36000.00 | 27500.00 |
| 34700.00 | 26263.00 |
Recommended:
Bullishness above 29000.
Update: No changes! The pair reached a strong support level that is 2100. Therefore, we are bullish as long as the pair trades above it, with targets of 2600 – 2800. On the other hand, if the level of 2100 is broken, the pair might reach 2000 followed by 1800.
| Resistance Levels | Support Levels |
|---|---|
| 3000.00 | 2100.00 |
| 2800.00 | 2000.00 |
| 2600.00 | 1800.00 |
Recommended:
Bullishness above 2100.
Update: The 0.5000 level has been broken! The chart above shows that the pair trades above a strong support level that is 0.5000. Therefore, we are bullish as long as the pair trades above it with targets of: 0.6000 followed by 0.8000. On the other hand, a close below 0.5000 (two days) would push the pair downwards so that it might reach 0.4500 – 0.4000.
| Resistance Levels | Support Levels |
|---|---|
| 0.9000 | 0.5000 |
| 0.8000 | 0.4500 |
| 0.6000 | 0.4000 |
Recommended:
Bearishness below 0.6900.