top of page
  • Writer's pictureCryptofool

Technically speaking: BTC short, medium and long term trends.

Updated: Aug 8, 2022




Over the course of last week the Bitcoin broke the 38K resistance level. The next major resistance level is at 52 -53K. If the price continues upward movement, there is a high chance Bitcoin will reach those levels.


On the downside, there are two key support levels to watch 35 - 36K and 29 -30K





Medium term trend is a lot more challenging. On the upside, here are a few minor resistance lines ahead. I don’t expect a straight upward movement to 53K. There will be a few zig-zags before that.


On the downside , I expect the price to retest the 34K support line before moving higher.





The short term time frame is on the upside. However, I expect a light pull back to 38 -39 levels before price continues to move higher.


Even though the price shows early signs of a reversal I do not expect a sharp V-shape recovery to the previous ATH any time soon. There are many challenging factors that can affect price.



Want to buy BTC?

2 views0 comments

Recent Posts

See All

Comments

Rated 0 out of 5 stars.
No ratings yet

Add a rating
bottom of page