Did BTC find strong support after the last sale?

The price of Bitcoin has decreased rapidly over the past few days, making investors concern about the end of the emerging market.

However, there is still hope, as the market is supported in a major area.

Technical analysis

by Edris derakhshi (Tradingrge)

Daily chart

On the daily graph, the origin has been a sharp decline since last week and has not yet recovered. However, the 200 -day moving average, located near the support level of $ 80,000, currently supports cryptocurrency, prevents another declining step.

With your survival, the bounce appears to the level of 90 thousand dollars. On the other hand, if these levels are broken to the downside, things may get worse, and the decrease to the $ 74,000 region will be very possible.

The graph for 4 hours

The graph for 4 hours shows a more positive image of the last price procedure, as the market wore decisively from the level of 80 thousand dollars. RSI’s bullish difference also showed the possibility of such a step in advance.

However, as long as the price did not rise to a higher height of 87 thousand dollars, the trend cannot be considered optimistic again, as the market needs to make its highest levels and lowest levels again.

Feelings Analysis

by Edris derakhshi (Tradingrge)

Funding rates

Moral analysis in the futures market always provides useful visions over the past few years, and one of the most useful standards is financing rates. This scale shows whether buyers or sellers control the futures market.

As depicted by the graph, the financing rate scale has printed the most negative reading over the past few days, indicating that sellers are implementing the power of short pants.

Although this may seem worrying, it may also be the beginning of the end of this declining trend, as the small bullish decline can lead to a series of short bonding that pays the price to the top again. As a result, the next few days are very important for a BTC future for a long -term BTC.