CRYPTO MARKET UPDATE
Bitcoin support levels - $16,700 and $16,300 strong Support
Bitcoin resistance - $17,300 and $17,800 strong resistance
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Analysis -
BTC Support is at $16,700 and $16,300. Resistance is at $17,300 and $17,800. Trade carefully and manage risk according to mentioned support and resistance levels.
BTC closed its daily candle green at 16895.
Looking at the 1-hour timeframe, 50 MA has been able to provide support to BTC which is around $16,700. 200 MA resistance is around 17,100. BTC needs a high volume to successfully break out from 200 MA resistance. If BTC is unable to maintain 16700 support then there will be a higher probability towards testing of the next support which is at 16,300.
Bitcoin support levels - $16,700 and $16,300 strong Support
Bitcoin resistance - $17,300 and $17,800 strong resistance
———————————————————————
Analysis -
BTC Support is at $16,700 and $16,300. Resistance is at $17,300 and $17,800. Trade carefully and manage risk according to mentioned support and resistance levels.
BTC closed its daily candle green at 16895.
Looking at the 1-hour timeframe, 50 MA has been able to provide support to BTC which is around $16,700. 200 MA resistance is around 17,100. BTC needs a high volume to successfully break out from 200 MA resistance. If BTC is unable to maintain 16700 support then there will be a higher probability towards testing of the next support which is at 16,300.