Bitcoin price fluctuation zone

27 พ.ค. 2022

We are currently in a long-term uptrend, which has intensified sharply since March 21, 2020, and continued until April 2021 due to the Corona Virus and economic impacts. However, this trend experienced a rapid decline due to numerous news and high price rises, which then went back to the previous price and even higher, causing a fake exit to its downtrend channel, which many analysts mistaken analysts that the uptrend in Bitcoin would continue at the same rate of 100K, but over time it became clear that the exit was fake, from where the downtrend began and the trend continues for 60 days... .
Bitcoin is currently fluctuating in the range of 29,000, which is a support point.
On the other hand, the amount of money in the Tether marketcap has reached its maximum, which is similar to March 2020, which was the beginning of the great upward trend of Bitcoin, and may start again from this point, but the point is that The floor of the large ascending channel has not been hit. So it is likely that bitcoin will continue to fluctuate within the zone indicated in the chart to start the uptrend again, but everything is probable and the only thing that is clear is that the candlesticks are always moving forward.
Support of 22K and the ceiling of the descending channel is 43K in this range.