Bitcoin course: Indicators indicate possible correction - how deep can BTC fall?
Bitcoin course: Indicators indicate possible correction - how deep can BTC fall?
The Bitcoin course could experience a correction according to the indicators. The course is currently in a parallel upward channel instead of shaping a "Bull Flag". The relative strength index (RSI) has a bear -in diversity in the daily -type. Furthermore, the MACD lines have already crossed the bear and the histogram of the MacD has been ticking for a few days.
Based on these signals, Bitcoin could now find out a correction to the Fibonacci supports at around $ 29,140 or $ 27,450. The 50-dayema at around $ 29,250 could also serve as additional support, while the 200-dayema could offer around $ 26,570.Despite the short -term bears, the trend remains in the long term by the Golden Crossover of the Exponential Moving Averages (EMAS) Bullisch.
In the 4-hour chart, the Golden Crossover of the EMAS intact is also intact, which confirms the bullish trend at short notice. The histogram of the MacD is currently ticking higher and the MacD lines are about to cross bullishly. The Bitcoin course may already bounce off the 0.382 Fibonacci support at around $ 29,140 and continue its upward trend.
As long as the Bitcoin course over the Golden Ratio supports support at around $ 21,200, the upward trend remains intact. In addition, Bitcoin has already found significant support at around $ 25,575. There is also a gold crossover in the weekly chart, which confirms the medium -term bullish trend.
In the monday, the MacD lines crossed Bullisch after the histogram of the MacD has been showing an upward trend for many months. If the Bitcoin course overcomes the horizontal resistance at around $ 31,000, it could increase to the next Fibonacci resistance at around $ 36,000 or $ 50,000.
The Bitcoin dominance was rejected at around 52.5 % of the 50-month Major Fibonacci resistance. This could lead to a correction for the next Fibonacci support at around 47 %. Before that, however, there is already a significant horizontal support between around 48 % and 48.5 %.
If the Bitcoin course overcomes the resistance at around 52.5 %, the dominance to the Golden Ratio could increase at around 60.5 %. However, the histogram of the MacD is ticking. At the moment, however, the MACD lines in the Monthly Charge are still crossed.
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