This is a daily analysis of the Coendesk analyst and rented market technician Omkar Godbole.
Bitcoin
Bulls try to establish an interim minimum of around $ 113,000, but the effort seems weak in terms of price and volume. Until now, the rebound has barely been remarkable, with a limited advantage above $ 114,000. In addition, the volumes have remained low in relation to what we observe during the fall in the early morning of Tuesday, as seen in the graph per hour.
The weak rebound is consistent with the bearish impulse signs, such as the simple mobile averages of 50, 100 and 200 hours (SMA) They are aligned in descending order and trend down.
In the daily table, prices have been broken convincingly below the support of the increasing trend line, indicating a change of bullish impulse to bassist. Both long -term Macd histogram (50,100.9) and the most commonly used MACD (12,26.0) They are showing a growing negative impulse, with deeper bars below the zero line.
Therefore, probabilities seem to be stacked in favor of a lower continuous movement. The first level of support is $ 11,982, from which the market rose on August 3. The 100 -day SMA is seen at $ 11,053. If these levels are eliminated, the approach would change to the 200 -day SMA to $ 100,484.
A convincing movement above the 50 -day SMA at $ 116,033 would deny the bearish perspective.
- Endurance: $ 116,033, $ 120,000, $ 122,056.
- Support: $ 111,982, $ 110,053, $ 100,484.
Read more: Markets today: Bitcoin, Ether recovery of minimum before the FOMC minutes
