Bitcoin : At Key resistance level

2020年7月30日

On weekly charts , the bitcoin is at .5 Fibo level from all time high around 19k on weekly closing basis to level recent low 3k. Also it was also the hard level which Bitcoin failed to cross in Jan 2019. Also BTC has reached overbought condition in daily and weekly charts. There is a higher chance that BTC may fall from this level to 10400 key support . Also BTC has gained in recent days mainly due to dollar fall. Hence for futher moment , USD has to fall again which seems slightly impractical due to recent fall. Other Global factors are pushing money towards gold than bitcoin
So BTC will not have smooth ride from these levels.