Bitcoin price analysis: Is BTC due to an imminent collapse to 80 thousand dollars this week?
Bitcoin currently tests a decisive support area on a 200 -day moving average ($ 83,000) and RERRERERRERDLING 0.5 Fibonacci. The basic procedure near this range is very important and decisive to the market, as a declining collapse can lead to a large sale.
Technical analysis
Written by Shayan
Daily chart
The price of Bitcoin supported in MA 200 days (83 thousand dollars), which led to side unification. This support area is in line with the scope of Fibonacci 0.5-0.618, which enhances its importance. A break below this level may indicate the shift of the trend towards a declining market, while keeping it may start a bullish recovery.
Currently, Bitcoin is held between 100 days (95 thousand dollars) and 200 days (83 thousand dollars). Until a decisive outbreak, monotheism within this range is the most likely scenario in the short term.
The graph for 4 hours
In the minimum time frame, Bitcoin erupted under its upward channel, followed by a retreat to broken support, a classic downtown confirmation.
This style indicates more risk of the downside if the cryptocurrency ends down the lower boundaries of the sorry, which may push the price to less than 80 thousand dollars.
However, Fibonacci scope is still 0.5-0.618 strong support zone, which increases the possibility of an upper reflection in the middle of the period. Given the uncertainty procedure, Bitcoin is expected to unite between 80 thousand dollars and 95 thousand dollars in the short term until the penetration determines the next main direction.
Series analysis
by Shayan
While it seems that the bully bitcoin momentum fades, the investor’s behavior analysis provides basic visions of market morale. One of the valuable scale in this regard is the lifetime of the output consuming from the exchange flows, which measures the BTC percentage deposited based on the time the investors spent their metal currencies.
When examining the age range for a week to 6 months, the last sales were primarily driven by short -term holders, and investors who usually interact quickly with price fluctuations. This indicates that the sale of panic and profit between these merchants has contributed to the decline in prices.
On the other hand, the long -term investors (who have more than 6 months) do not appear any signs of aggressive sale. Instead, their activity is in line with the gradual profit, which is a feature of any health ascending trend.
This means that these investors expect higher prices before distribution, which reduces the immediate offer in the market. If enough demand enters the market, the shrinkage of this supply may lead to an increase in prices.
Post -Bitcoin: Is BTC due to an imminent collapse to $ 80,000 this week? He first appeared on Cryptopotato.
