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Cryptoknowmics 2022-06-24 14:25:36

BTC Technical Analysis: Bitcoin Will Not Grow Above $30,000 Soon

The previous trading week on the Bitcoin market realized the dreams of many investors who were waiting for BTC for $20,000. However, sellers managed to exceed expectations, setting the local low at $17,622. Fortunately, the weekly candle closed above the liquidity range of $18,000-$20,000, and buyers have every chance to start correcting the powerful fall wave. There are now two strong liquidity levels in the market, between which the BTC price may hang for some time before the trend begins. This is in the range of $20,000 and $30,000. In such a wide range, the BTC price can be traded even until the end of autumn 2022. Source: Therefore, until the BTC price is fixed above $30,000 or sellers push the price below $20,000, planning sky-high trend targets does not make sense. The trading volumes during the weekly candle of 13 June show us the tremendous efforts of sellers who were spent to achieve the result. So the maximum we expect from sellers in the coming weeks is an attempt to test the $19,000 range. This attempt will finally pass the initiative into the hands of buyers and we will witness the formation of a rebound of Bitcoin with the final target of $30,000. BTC Technical Analysis On The Daily Timeframe Source: Analyzing the movement of the BTC price on the daily timeframe, you can see that things are not very good for buyers. After the depleti...

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