Bitcoin, which fell by 2 percent in the morning hours, is priced at $32,829. When we check the chain data for Bitcoin, we do not see a full recovery yet when we look at the 7-day average of the number of active and new addresses. On the other hand, when we look at the transfer between exchanges and wallets, we see that there is a net outflow dominance from the exchanges on an average of seven days. Although this reduces the selling pressure for Bitcoin, we do not see the effect on the price yet. We see that 307 million dollars have been transferred from exchanges to wallets in the last 24 hours. The long-term outlook for Bitcoin is positive.
When we look at the BTC/USDT pair technically, we see that it opened just below the weekly DEMA ($ 33,625) and tried to rise above these levels, but failed. If the price continues its downward move, we expect the monthly DEMA at $32,474 to act as the nearest support level. In case of an upward movement, our first level of resistance will be the $33,500 levels. In the short term, due to the indecision about the direction in the market, buying near support and selling near resistance will be a healthier strategy.
BTCUSDT
Pivot: 33.414
Resistance Levels
34,028 / 35,086 / 35,700
Support Levels
32,356 / 31.742 / 30,684
Visits: 57
