Bitcoin on a weekly analysis is forming an evening star chart pattern and is taking support. It is trading below its 20 ema and 0.382 fib levels.
On daily time frame, it has closed below is 20 and 200 ema and seems little bearish for short time fame as 4 hour time fame has given a moving average cross over.
It can retest its 20 ema on 4 hour time fame and fall further.
Support :- 42100,41380. 39790
Resistance :- 43010,44550, 45600
Supports may be breached once the price trade below the levels and sustain.
Bitcoin has streched and can come futher down to test the levels
Wait for the price action near the levels before trading,
On daily time frame, it has closed below is 20 and 200 ema and seems little bearish for short time fame as 4 hour time fame has given a moving average cross over.
It can retest its 20 ema on 4 hour time fame and fall further.
Support :- 42100,41380. 39790
Resistance :- 43010,44550, 45600
Supports may be breached once the price trade below the levels and sustain.
Bitcoin has streched and can come futher down to test the levels
Wait for the price action near the levels before trading,
