Bitcoin (BTC), which has been priced at 30 thousand dollars for nine days, has lost close to 7 percent in a short time, how is the direction of the crypto market?
BTC, which has been in the $ 30,000 range for almost 10 days, has come out of this range after the decline it showed as of yesterday. BTC, which instantly fell from $ 30,425 to $ 28,500, lost 6.25% of its value. The price action of BTC, which crypto investors have been eagerly waiting for, has arrived in a way. In a short time, he brought the question of “BTC, which has experienced such a decline, was there any event that triggered the movement?”
But was this price action of BTC, which continues in the uptrend, a trap scenario to scare investors?
Bitcoin (BTC) Chart Analysis
In order to understand the trap movements of the crypto market, first of all, the “permanence” of the movements in the short time frame is one of the main criteria. Currently priced above the daily opening price, BTC must exceed $ 29,150 in order to continue on its way. In the following price movements, the $29,980 resistance is of great importance. In line with exceeding these levels, BTC’s uptrend could continue to be strong. However, in the possible bearish scenario, the monthly opening price and the support of $ 28,250 can be followed carefully.
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