Crypto currency market: bitcoin remains in a downtrend

The pair BTC/USD keeps the downward trend of the week, despite the development of bullish divergence of the indicator forex MACD. An additional factor, indicating a decrease in bitcoin, is the renewal of the minimum at the beginning of the day. It should be mentioned that this pair remains in the oversold zone, and the end of the week is excellent for starting correction.

BTC/USD fixing below the level of 8000.00 will open the way to support levels: 7650.00 and 7600.00. Resistance is: 8100.00 and 8120.00.

Fig. BTC/USD H4. The current price is 8000.00.

Also, read: “MACD indicator – a reliable tool for technical analysis”

Dani Leviant