The LMACD index reveals the location of the bitcoin price after rejection from $ 97,000
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Bitcoin faced a rejection after increasing its height to $ 97,000 last week. Technician Tony Severino Commentary on this development and alluded to the LMACD index, which revealed the next for the main encryption.
What is the next for bitcoin after rejection at $ 97,000
In the X, Tony Severino I mentioned That multiple time analyzes BTC using LMACD Index It indicates that the price of bitcoin is in a risky position. And note that if the daily momentum crosses the decline, it may prevent the weekly bullish intersection and the weekly LMACD withdrawal than zero. This would cross the LMACD background.
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With many important timelines in Sync, Severino warned that market participants could see a more aggressive step for bitcoin price. On the other hand, the technical expert indicated that the daily diverge Monthly crossoverWhich can be upward.
However, it suggested that the low price of bitcoin is the most likely at the present time, as the monthly LMACD is the most dominant on the three signals, which looks forward to a hint in a declining direction. He added that this indicator also has the power to withdraw other time frames with it. Severino failed to mention the low BTC decrease in the expected price.
During, The encryption analyst Ali Martinez He also warned of the low price of bitcoin. In the X Publication, he stated that BTC can retreat soon because the TD sequence index flashes a signal signal. The analyst has warned that if Bitcoin loses support level 94,765 dollars, it may decrease to less than $ 90,000 or even 86,000 dollars.
How can history repeat itself for BTC
Encryption Rick Capital It raised the possibility of repeating the price of bitcoin a similar step last year. In order to repeat the same date, he indicated that BTC will need a rejection of $ 99,000, acquire 93,500 dollars, break the range of 97,000 to $ 99,000, reject 104,500 dollars, hold 97,000 dollars to 99,000 dollars in support, then erupted to the highest new level (ATHS).
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Comment on the current price procedure, encryption analyst Titan from encryption Note that the price of bitcoin is due to the meeting of the main support. He added that a strong reaction from this current region will confirm that the upward trend remains intact. His accompanying scheme showed that the price level is 95,423 dollars is the area to see. Failure to restore this level soon can start in a declining direction for the main encryption.
At the time of this report, the Bitcoin price is traded by about $ 94,700, a decrease in the past 24 hours, according to Data From Coinmarketcap.
Distinctive image from Unsplash, Chart from TradingView.com
