From the fundamental level the BTC ETFs lose strength and there is no positive signal which opens a path towards an upward momentum (at least momentary) so the price maintains a strong support in the $ 3000.
- Bitcoin remains on the downside
- BTC ETFs with no further result
- A market dominated by bears
Analyzing the BTC/USD chart we can see a downward trend, which seeks a support in the $ 3000 which has tried to break without success, so it has been set as the main support. On the other hand, the higher price resistance is found at $ 4220.
Keep in mind that, the market is under a lot of indecision. Do not enter fresh capital and these causes the liquids to be lower so opening positions is not a good idea at this time.
For those who make long-term hold, the $ 3,000 is a good point of purchase and even greater if it broke the main support. At the moment the EMA 9/26 moving averages continue to fall while the RSI submerged below 40%.
- Moving Averages EMA 9/26
- RSI (relative strength index) 40%
- $ 3000 support
- $ 4200 resistance