Technical Analysis of Intraday Price Movement of Bitcoin Cryptocurrency, Friday August 11 2023.
August 11, 2023 5:24 am
This time, if we look on its 4 hour chart, Bitcoin Cryptocurrency is inside the ranging condition, but there is still inside Bearish pressure where this is confirmed by the price movement which still moving below EMA (55) as well as Andean Oscillator indicator which the green line has going down below the orange line and seems like the red line has prepared to going upside the orange line. This shows that in the near future there will be quite significant weakening momentum force which will bring Bitcoin down to the level area 28985 – 28625 with the notes that as long as there is no strengthening towards that area past the 30075 level because if this level is exceeded then the weakening scenario described previously will become invalid.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
This time, if we look on its 4 hour chart, Bitcoin Cryptocurrency is inside the ranging condition, but there is still inside Bearish pressure where this is confirmed by the price movement which still moving below EMA (55) as well as Andean Oscillator indicator which the green line has going down below the orange line and seems like the red line has prepared to going upside the orange line. This shows that in the near future there will be quite significant weakening momentum force which will bring Bitcoin down to the level area 28985 – 28625 with the notes that as long as there is no strengthening towards that area past the 30075 level because if this level is exceeded then the weakening scenario described previously will become invalid.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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