Expect More Pain Ahead of BITSTAMP: BTCUSD By Tradersweekly – Technische Analyze – 09-20 2022 08:38:57

unsurprisingly, Bitcoin It fell below $20,000, which assures us bearish bias. During the week, we will be on high alert as the Fed prepares to raise interest rates and worsen economic conditions (and possibly trigger another massive sell-off). Other fundamental and technical factors also compensate bearish consensus. Therefore, we have no reason to change our view and stick to the $17,500 and $15,000 price targets.

Illustration 1.01

glimpse

The image is shown above daily chart From BTCUSD . White horizontal lines indicate simplicity support and resistance levels. yellow arrow pointing bearish Break below immediate support, followed by rising Rebound. We want the price to be lower than the spot price Support level To confirm bearish See also.

Technical analysis – daily time frame

RSI And the MACD And the Random DM + and DM- are all bearish . The daily time frame is bearish .

Illustration 1.02

glimpse

The above illustration shows the increase in the sound that accompanies a drop in price. It is positive for bearish Scenario; We would rather like to see the sound grow more.

Technical Analysis – Weekly Time Frame

RSI And the MACD And the Random DM + and DM- are all alcohol market . Weekly time frame is alcohol market .

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Disclaimer: This analysis is not intended to encourage the purchase or sale of any particular security. Moreover, it should not be a basis for any trading action to be taken by an individual investor. Therefore, your due diligence before entering into a deal is highly recommended.

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