BTC/USD analysis 06/09/2021
Bitcoin quotes again approached the key support around $ 30,000, where it intersects (61.8% Fib) with (MA200) on the daily timeframe. Bitcoin is currently trading in the $ 32,500 area, below (MA200) and near the upper line of the downtrend channel.
If the quotes drop below $ 30,000 (61.8% Fibo) and (MA200), technically it will mean the transition of the correction to the downward movement with the nearest target in the region of $ 20,000.
The nearest resistance is at the level of $ 43,800. If quotes go above $ 44,000, technically it will mean a possible rise above $ 50,000 and the development of an uptrend towards the $ 65,000 maximum area.
Created by Joshua Hayn