empty
 
 
17.09.2021 10:37 PM
Bitcoin lost momentum, breakouts need validation

Bitcoin slipped lower after reaching the 48,505 level yesterday. This could be a temporary decline before resuming its upside journey. The pressure comes from the weekly pivot point and it seems under strong pressure.

Still, the bias is bullish, so personally, I'll look for new buying opportunities. The current decline could help us to catch a new bullish momentum. A temporary decline is natural after the most recent rally.

BTC/USD stands at 47,183 above 46,712 today's low. Most likely, it has decreased only to test and retest the immediate support levels before jumping towards new upside obstacles.

BTC/USD temporary decline?

This image is no longer relevant

Bitcoin failed to stabilize above the broken static resistance of 47,637 level. It has decreased a little but it could still stay above the weekly pivot point (47,309) and beyond the 23.6% retracement level.

Registering only a false break below these levels could signal potential growth. It could increase as long as it stays within the Ascending Pitchfork's body. The median line (ml) is seen as a potential upside target.

Outlook

Coming back and stabilizing above 47,637 followed by a new higher high could represent an upside signal and provide a trading opportunity. The median line (ml) and the seventh warning line (wl7) are seen as potential upside targets.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $1000 más!
    ¡En Abril, sorteamos $1000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback