Where is the main price support?

Bitcoin price trends were almost constant last week, and technical analysis shows that next week it is likely to be neutral or somewhat downward. The closest support for this digital currency appears to be in the $ 25,000 and $ 27,000 range.

To Report Bitcoin Desk, Bitcoin is still moving below its one-year volatility. This digital currency may be supported by buyers at prices of $ 25,000 and $ 27,000; But it is likely to fall further.

At the time of writing, Bitcoin is trading at $ 29,300, down about 3% from the previous day. It is worth mentioning that the result of the price changes of this digital currency last week was almost zero, and its recent trend indicates the turbulent market conditions and the recklessness of the price path.

Although Bitcoin is in the sell-off, the momentum of long-term indicators (RSI and MACD) remains contradictory. This indicates that the bitcoin trend in the next few days is likely to be neutral and downward.

The lowest bitcoin support in its 200-week moving average is $ 21,954. If the market’s largest digital currency falls below this level, its next target will be $ 17,673. This is 74% lower than the historic high of $ 69,000 Bitcoin in November last year (November 1400). Bitcoin fell about 83% from its peak in the declining market in 2018.