Thu Oct 20, 2022
Low Volume Transactions Continue in BTCUSD
While the upward trend in long-term bond yields suppresses the global risk appetite, it causes us to see horizontal price movements in Bitcoin. When we examine it technically, the level of 19 thousand 650 dollars in the cryptocurrency, which is dominated by the descending trend pricing, maintains its importance. The continuation of the persistence under this region, which points to the trend line, may bring the support levels of 18 thousand 750 and then 18 thousand 100 dollars to the agenda. Otherwise, 20 thousand 500 dollars levels can be considered as resistance in possible bulky transitions on the trend line.
Support: 18 750 – 18 100 – 17 500
Resistance: 19 650 - 20 500 - 21 750