Market Analysis of Bitcoin on Monday, May 17, 2021

2021-05-17 14:30Source:BtcDana

BITCOIN


In early Asia market, the global market value was $239.303 billion, with 24H increase of +3.22% 3.22% in 24h and 7- day increase of -12.94%. The market value of BTC is $863.786 billion, accounting for 36.09% of the global market value, and the price was $46400 (- 0.76%). Musk replied "Indeed" to the comment that "Tesla may have sold its Bitcoin position", and the market responded with selling frenzy. From a technical point of view, bitcoin fell by about $14000 last week. At present, the daily line stops weakening at the key support level 42000-43000. Focus on the resistance level near 45500. All indicator shows the bearish signal. Overall prioritise Buy on Low on the influctuation zone. The deciding point whether to buy or sell is 45500

 https://asset.ycxfy.com/upload/file/1621180800000/1621236720213.png

Resistance:45500-47000-50000

Support:42000-40000-38500


Disclamer: The report is speculatif and DO NOT guarantee profit. Not financial advice. Please trade at your own risk.


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