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12.04.202322:29 Forex Analysis & Reviews: Bitcoin analysis for April 12th, 2023.

Exchange Rates 12.04.2023 analysis

Yellow rectangle- support

Bitcoin is trading around $29,860. Price recently made a break out above resistance of $28,800-$29,000. Short-term conditions are overbought. There are increased chances of a pull back towards the break out area. Previous resistance is now support. The RSI is turning lower from overbought conditions. Price is vulnerable to move lower. A break below the yellow rectangle area would be a sign of weakness and will put the recent lows of $27,000-$26,600 in danger.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Alexandros Yfantis,
Analytical expert of InstaSpot
© 2007-2024
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