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BTC Technical Analysis: Below $19,000 Will Be A Disaster

BTC Technical Analysis: Below $19,000 Will Be A Disaster


Cryptoknowmics
2022-06-30 12:03:45
BTC Technical Analysis: Below $19,000 Will Be A Disaster

If investors did not want to stop this terrible Bitcoin and the cryptocurrency market fall, there are no positive signals globally. A powerful weekly candle from 13 June sent BTC down 33% for the week. Buyers managed to keep the range of $19,000-$20,000 under their control. However, this fact did not give buyers any inspiration. This is perfectly visible on the next weekly candle from 20 June. During this period, the price moved in a narrow 10% consolidation. Trading volumes during the trading week from 20 June were high enough and even this did not allow buyers to carry out a bright counterattack. Source: https://www.tradingview.com/x/GXyHVSzI/ The trading week from 27 June saw a continued Bitcoin fall. Sellers were able to update the local lows of the previous week and re-extend the range of previous historical highs. If buyers give the range of $19,000 without problems, the BTC price will hit $13,000 in July. In addition, on 30 June, the monthly candle closes, as at the moment it is terrible for investors and hints at only one thing – the fall is not complete. BTC Technical Analysis On The Daily Timeframe Source: https://www.tradingview.com/x/4VD2kmyE/ Analyzing the movement of the BTC price on the daily timeframe, it can be noted that the duration of the consolidation in the range of $28,000 is much longer than the current consolidation in the range of $19,000-$20,000. This indicates a high probability of continued price m...

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