Prediction of Bit for a week by Jeffrey (November 19th to November 25th)

Last week, the Bit fell due to the hash war of Bitcoin Cash, and it is still on the decline.

As a result, the support line that was believed to be highly reliable has collapsed, and the slope of the moving average line, which gradually changed from the downward trend, is now heading downward again.

The current chart also has a stiff downward trend; the rebound is especially too weak compared to the decrease, and there is no clear sign of rebound after the panic selling. It seems to be on the decline again after the movement.

It is important to note that the bottom is not yet identified, and the top of the resistance line is $5,780 and $5,920.

The section that can be considered as a support for the chart per week is around $5,000, which is a support line of the moving average line of 120 days, and $4,600, which is a support line of the candle.

It is necessary to check the bottom pattern such as the double bottom or the inverse head and shoulder, and one should not predict the bottom before responding to the market.

The likely inflection points of the market are at 21:30 on the 19th and at 12:00 on the 20th.

Columnist Jeffrey (news@dailycoinews.com)의 기사 더 보기

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