Sharing thoughts on BTC!

٢٠ أغسطس ٢٠٢٣

BTC took a big dip a few days back, slipping below the EMA200. It's kind of like what happened around March when we saw a similar situation, but back then, it managed to bounce back around the 19555 support level and climb above the average, starting a nice uptrend that pushed the price up to 31869.
This time BTC breaking the EMA200 doesn't make it seem very likely that we'll quickly pop back above the average and hit new highs. Looking at the four-hour chart:

We're back to the low liquidity levels from before the big drop, and the upward push doesn't seem as strong as before when we hit support 19555.
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BTC bounced up around the 23659.5 support, which we could also see as a bounce-back after breaking through the trend line. The steadier support area is around 26000, so keep an eye on what the price does there.
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Resistance:
27764 (near the resistance trend line)
Support:
23659.5
21575~21722