Bitcoin slips under $ 23,000, but a bullish indicator flashes (BTC price analysis)

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Von Krypto News Österreich

Die Preisrallye von Bitcoin ist zum Stillstand gekommen, da sich der Markt seit Wochen unter einem signifikanten Widerstandsniveau konsolidiert. Während es kurzfristig einige besorgniserregende technische Anzeichen gibt, entwickelt sich auch ein sehr zinsbullisches Signal. Technische Analyse Von: Edris Das Tageschart Im täglichen Zeitrahmen hat sich der Preis in letzter Zeit unter dem Widerstandsbereich von 25.000 $ konsolidiert. Die jüngsten Tageskerzen deuten darauf hin, dass das bullische Momentum nachlässt. Auch der RSI bestätigt dies, da er unter die Marke von 70 % gefallen ist, was darauf hindeutet, dass der Markt in eine Pullback-Phase eingetreten ist. Der gleitende 50-Tage-Durchschnitt steht jedoch kurz …
Bitcoin's price rally has come to a standstill because the market has been consolidating under a significant level of resistance for weeks. While there are some worrying technical signs at short notice, a very interest bully signal is also developing. Technical analysis of: EDRIS The daily daily time frame has recently consolidated the price below the resistance area of ​​$ 25,000. The recent day candles indicate that the bullish momentum subsides. The RSI also confirms this because it fell below the 70 % mark, which indicates that the market has entered a pullback phase. However, the sliding 50-day average is short ... (Symbolbild/KNAT)

The Bitcoin price rally has come to a standstill because the market has been consolidating under a significant level of resistance for weeks. While there are some worrying technical signs at short notice, a very interest bully signal is also developing.

technical analysis

from: Edris

the daily -type

In the daily time frame, the price has recently consolidated under the resistance area of ​​$ 25,000. The recent day candles indicate that the bullish momentum subsides. The RSI also confirms this because it has fallen below the 70 % mark, which indicates that the market has entered a pullback phase.

The sliding 50-day average is about to cross the sliding 200-day average upwards around $ 20,000 marks, which is known in the medium term as a very interest bully signal.

Although a short-term sweater seems to be promptly, the market could soon recover and break over $ 25,000 marks.

btc_price_chart_0602231 Tradingview

The 4-hour diagram

In the 4-hour chart, the price still has to break out of the tight range between the levels of $ 24,000 and $ 22,500. The lower limit of this range is currently being tested and it could finally break through, which could lead to the fact that the market falls in the direction of the $ 21,000 area.

The RSI indicator has shown a clear declining divergence in the past few days. However, he now also indicates the dominance of the sellers, since this oscillator shows values ​​below the 50%threshold.

Finally, it can be said that a bearish collapse of the $ 22,500 mark appears at the moment, since a deeper withdrawal seems to be anticipated immediately.

btc_price_chart_0602232 Tradingview

on-chain analysis

Bitcoin financing rates

After the latest price increase, investors at Bitcoin are again optimistic. The appointment market shows a positive mood signal, but there are also some worrying signs.

The following diagram shows the key figure of the financing rates, which indicates whether the market mood for eternal futures is optimistic or pessimistic. Values ​​over 0 are associated with the bullish mood, while values ​​under 0 show a bearish mood.

This key figure has shown positive values ​​in recent weeks, which indicates that investors are optimistic and have bought more aggressive on the appointment market. During the latest consolidation, however, the key figure of the financing rates has retained positive values, although the price has not increased.

This could be a negative signal if things could not change, as this could mean that the sales pressure has increased, and a decline in price could lead to another significant long liquidation cascade that would probably cause a price crash at short notice.

btc_funding_rates_0602231 Cryptoquant

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