Bitcoin’s price action has been relatively stagnant over the past few days. The market is still hanging around the $30K level, but this consolidation phase will not continue forever.
Technical Analysis
By: Edris
The Daily Chart:
On the daily chart, the 50-day moving average is currently holding the price around the $30K level. However, it has failed to push the market back above the $30K mark over the last few days.
There is a probability for the price to break to the downside and drop towards the 200-day moving average located around the $27K mark.
The 200-day MA is a key indicator and might push the price higher once more, as it did back in February. On the other hand, if the price climbs back above the key $30K level, a rally higher and an eventual test of the $38K resistance zone could be expected in the next few weeks.
Source: TradingView
The 4-Hour Chart:
Looking at the 4-hour chart, things appear more interesting for BTC. A large falling wedge pattern has been forming since th
We współpracy z: https://cryptopotato.com/two-possible-targets-for-btc-in-the-short-term-bitcoin-price-analysis/
