Bitcoin (BTC) Price Analysis – February 1 (cryptoglobe.com)
Here’s our tl;dr summary of the latest BTC price analysis from cryptoglobe:
If price breaks below the $3,400 price level, the crypto will find support at the $3.000 and $3,200 price levels.
From the daily chart view, the price of Bitcoin is in a bearish trend zone.
From the price action, the crypto commenced a range bound movement and was resisted by the 12-day EMA. Then the crypto’s price would depreciate further.
On the downside, after the third rectangular block of price bars, the crypto is likely to find support at the lows of either $3,000 or $3,200.
On the 4-hour chart, the price of Bitcoin is in a bearish trend zone.
Today, the crypto’s price was resisted as the price fell to the low of $3,470.
The Stochastic is out of the overbought range but below the 40% range which indicates that the price is in a bearish momentum and a sell signal.
Original article reduced by: 59%
Read the full article here.
Related story: Crypto Market Rebounds: Bitcoin Cash, EOS, Stellar, Tron Price Analysis (newsbtc.com)
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