BTC price has not yet been able to recover from the great loss that it had gone through by 20th of June 2022. The descending slope of the chart however has descended significantly and a bearish triangle is formed on the chart. The current position of the price line on this pair is almost close to a strong static support zone. The descending red line indicates the trend line on the previous bearish wave and the red area below the price line reflects the static support zone. In case the price line breaks above the trend line, a major ascending wave could be expected, on the other hand, breaking below the support zone, can be followed by a bigger loss for BTC.
• There is resistance 20400 followed by resistance at 22750 and 24123
• There is support at 19000 Below, there is 18737 and 1. 17650
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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