Market Analysis of Bitcoin on Tuesday 20 July 2021

2021-07-20 13:25Source:BtcDana

On Tuesday morning, BTC fell rapidly, breaking the $30,000 mark in the short term, and is currently hovering around $29,600. The intraday drop has reached 3.45%. The market is very volatile. Please manage your risks. The computing power of the entire Bitcoin network started to recover on July 3 after the computing power of the entire network has fallen sharply since May 12 this year. Report: The trading volume of Bitcoin funds fell to 38% from this year's average, the number of Bitcoin ATMs in use globally has reached 23,640. Technically, Bitcoin's daily line continues to be under pressure, all daily indicators are bearish, and the 4 hours chart shows bitcoin is in a bearish trend. At the beginning of trading Bitcoin formed a downward gap and the indicators showed bearish signals. Overall, the market has been fluctuating for the long term, therefore, when the market shows direction it is a trading opportunity. Prioritize selling at high prices. The deciding point whether to buy or sell is near 31000


https://asset.ycxfy.com/upload/file/1626710400000/1626762175933.png

Resistance:30000-31000-33200

Support:28800-27700-25000


This material is from Quant Tech Limited and is being posted with permission from Quant Tech Limited. The views expressed in this material are solely those of the author and/or Quant Tech Limited and BTCDana is not endorsing or recommending any investment or trading discussed in the material. Before acting on this material, you should consider whether it is suitable for your circumstances and as necessary, seek professional advice


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