Bitcoin (BTC) Reclaims $30,000 After Flash Crash to $26,700 - BitcoinEthereumNews.com
BitcoinBitcoin (BTC) Reclaims $30,000 After Flash Crash to $26,70005 / 13 / 2022Balita ng Ethereum ng Bitcoin Bitcoin (BTC) has broken out from a short-term pattern after bouncing at a confluence of Fib support levels. Bitcoin has been decreasing at an accelerated rate since breaking down from an ascending parallel chanel on May 5. The downward move has been swift and led to a long-term low of $26,700 on May 12. The decrease also caused a breakdown of the $30,500 horizontal support area, which had previously been in place since May 2021. Currently, BTC is making an attempt at reclaiming the level (red icon). Because the support had been in place for such a long time, whether or not BTC is able to reclaim it could be a major determinant as to the direction of the future trend. Panandaliang paggalaw The two-hour chart shows that since the breakdown from the aforementioned long-term chanel, BTC has been trading inside a shorter-term descending parallel chanel. On May 12, it bounced at the support line (green icon) of this chanel and began to move upward. It seemingly broke out from the chanel the next day but is still facing strong resistance at $31,800. This is the 0.382 Fib retracement resistance level