Bitcoin (BTC) – Technical Analysis – Medium term – Cryptocurrency

By: bbbbb bbbbb blogs 0 Comments July 26, 2021

Close: 34 220.00 (+500.66), Jul 25, 2021

Automatic technical analysis. Medium term, Jul 25, 2021

Bitcoin has broken through the ceiling of a falling trend channel in the medium long term. This indicates a slower falling rate initially, or the start of a more horizontal development. The price has had a strong fall after the negative signal from the head and shoulders formation at the break down through the support at 48030. The objective at 38326 is now met, but the formation signals further development in the same direction. The currency has support at points 30000 and resistance at points 62000. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the trend break.

The currency is overall assessed as technically negative for the medium long term.

Recommendation one to six months: (Score: -67)

Period	Vol.bal.	Volatility	Liquidity	+/- %
1 day	–	2.82%	6 388.21	+1.48%
5 days	-8.53	9.67%	7 169.70	+15.30%
22 days	-30.44	29.59%	7 017.03	+4.01%
66 days	-29.13	81.51%	11 895.15	-15.85%

More analyses of Bitcoin

Candlesticks

Short term: Negative

Medium term: Negative

Long term: Hold

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