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Bitcoin Update: Crypto pair continues to fall behind

Dear traders,

The one traded in US dollars continues to fall after the test of 50,000 US dollars a few days ago and leaves little doubt about a short-term trend change. In the course of today, the important mark of 48,000 US dollars was left, further discounts must be planned. Anyone who has recently been involved in short positions should now tighten their stops noticeably. A level around $ 48,800 would be an option.

Short chance:

If there is a sustained daily closing price below 48,000 US dollars, the other targets of 45,000 US dollars and below 44,000 US dollars should be in the focus of market participants. There is no doubt that tomorrow’s central bank meeting in Jackson Hole is likely to cause increased volatility in the currency markets. A bullish scenario with targets around 56,000 or 59,850 US dollars can only be derived for the bitcoin above 51,200 US dollars. However, there are currently no signs of such a case.

Resistors: $ 48,162 / 49,447 / 50,539 / 51,200 / 52,302 / 52,957 US dollars

Supports: $ 46,307 / 45,000 / 43,832 / 41,487 / 39,882 / 37,419 US dollars

Daily chart:

Bitcoin daily chart

in USD; Daily, local time (GMT + 1); Price of the crypto pair at the time the analysis was made $ 46,639.50; Trading place: MarketsX; 9:10 am

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy / sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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