Bitcoin movement and swissblock modern charting patterns.
Bitcoin suffered one of its sharpest falls of 2022 this week, due to fear of increasing interest rate and the breaking economic condition.Bitcoin price traded with a vigilant tone as the selling factor slows down today. In todays market, it seems that selling pressure is getting low and the price goes to 36000USD.While having an expert eye on the charts, it seems that bitcoin will breakdown the 35000 usd mark this week as the selling volume is still appreciable relatively.
As of publication time bitcoin is trading at 35803 usd with a struggle sign to hold the support zone and the 50-day EMA is expected to play a decisive role in formation of trend.Things are pretty clear as per charts showing a clear retesting region between 37300 to 38100 on shorter time frames. On the contrary bearish trend will follow if it fails to hold the 34000usd levels.Keep in mind that the bottom as per the market analysis and charts is being called at 28-29000usd. A break of these levels will send the bitcoin to long term bearish trend with heavy sell-off.
Now the question arises that how this interpretation is possible. Looking at the trading interface of swissblock,one can see the strategic tools used to be implemented on the charts for a better and clear picture.EMA’s,indicators and the expressive trend lines helps to interpret the values and next moves.Also the bullish/bearish patterns given in swissblock crypto exchange helps you to find the deviations and the good enteries/exits.