How low BTC decrease this week after losing 80 thousand dollars

Bitcoin has broken less than the 200 -day main moving average, which is 83 thousand dollars, which showed a noticeable domination. However, the price faces the last defense line for buyers at 80 thousand dollars, with a possible outbreak leading to a significant decrease of about 75 thousand dollars.

Technical analysis

by Shayan

Daily chart

Bitcoin was rejected by resisting 92 thousand dollars, which led to a strong sale that led to a lower rest than the 200 -day main MA at 83 thousand dollars and RERRERRERDING 0.5 Fibonacci. This area was expected to provide a strong demand, but the declining pressure may overcome buyers, which leads to long qualifications and a negative transformation in the market morale.

Currently, Bitcoin tests the last line of defense from buyers in the $ 80,000 region, which is compatible with the lower boundaries of the emerging canal and the REECTING 0.618 Fibonacci. If this level fails, another sale may lead to a price increase of about 75 thousand dollars, which represents a deeper correction in the market.

The graph for 4 hours

In the less time frame, the Bitcoin price is between 80 thousand dollars and 92 thousand dollars. The last rejection at the upper end of this range emphasizes the frequency of the market. A clear outbreak of this area is needed to create a final direction.

Moreover, there is a slightly lower liquidity rally than the minimum of $ 78,000, as many sale orders accumulated.

This complex may be an attractive goal for smart money, which increases the possibility of a medium -term outbreak. Thus, the Bitcoin movement is expected to remain in the coming weeks, with more unification before any decisive step.

Series analysis

by Shayan

Historically, Bitcoin’s reaction with the price achieved 3-6 months played a pivotal role in determining the direction of the market. This scale often works as a strong support or resistance area, which reflects the average acquisition price for mid -time holders.

Currently, Bitcoin tests the price achieved 3-6 months of holders of $ 83,000. Constipation over this region indicates strong confidence in the market, enhancing bullish feelings and increasing the possibility of more upscale momentum.

However, if Bitcoin fails to maintain support on this threshold and explode below, this may lead to a shift in feelings towards fear. This scenario may lead to a distribution stage, as short investors separate the average of their property, which may lead the price to correct deeper and provide the opportunity for smart money to accumulate at low prices.

Consequently, the work of bitcoin around the level of 83 thousand dollars will be very important in forming a short course to the average period. Whether it is an apostate or collapses it is likely to determine the next main direction in the market.