Will Bitcoin (BTC) rise again? – ₿magazine

As Bitcoin declines, some technical indicators show that BTC is lacking bullish momentum. The momentum indicator indicates insufficient engagement to restore bullish momentum.

The 4-hour chart of BTC shows a downtrend, approaching yearly lows set in June at $18,000.

Warned you many times that BTC looks bearish. we will see more volatility. The latest support is currently in the $18,000-$18,300 zone. If we fail to hold above it, we may see a test of the previous high zone which is $14K #BTC #Bitcoin #BTCUSDT Stop loss is mandatory in this market.

Between June and August, Bitcoin drew a medium-term bullish channel. The break of this descending channel has led to a resumption of the downtrend started in November 2021.

BTC price liquidity is declining as Bitcoin falls below $19,000.

With the update of Ethereum in the next two weeks, the cryptocurrency industry will reach an important turning point. The second largest cryptocurrency by market capitalization will complete the transition to a Proof-of-Stake (PoS) consensus mechanism.

This update brought Ethereum to the fore at the expense of Bitcoin. While Ethereum has retained some of its gains since June, Bitcoin has again lost almost everything.

Can bitcoin rise in 2022?

Buy Bitcoin for less than $20,000? Good plan or unnecessary risk?

The answer is yes. Although yearly lows can be broken, when Bitcoin hits new all-time lows, it triggers buying intent, with prices very low (compared to prices at the beginning of the year).

Read also How much will Cardano (ADA) cost by the end of 2022? 4 crypto experts give their forecast for the ADA price by the end of the year!

Psychological thresholds such as $15,000 will lead to further savings.

🟡 BTC closed last night with a new low in the body of the candle compared to the previous low in June. However, for now we are back to the blue area. To see if today’s candle will give confirmation of a clear break or bounce. #Bitcoin

Buyers also didn’t have their last word around the $18,000 annual low. this level is still holding and could be the starting point for further growth.

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