FX.co ★ #Bitcoin chart analysis

Analysis and forecast for the trading instrument #Bitcoin based on technical analysis Last week the trading instrument Bitcoin showed a fairly decent decline, everyone more or less understands why this happened, although even before that a descending channel had been forming on the four-hour chart, but the price was being held back by the round support level of 80 thousand. Now the level is broken and there is a chance that the crypto market will, by inertia, continue its movement to the South, although the situation with Binance itself seems to have been resolved and no crash that investors feared occurred. We had a resistance level at 79 200, but the price didn’t quite reach it and bounced, so now we’ll have to look for potential short entry points somewhat lower. As an option we can consider the 77 600 mark, where Sunday’s low is located, if we get such a pullback. I think the downside potential is not too large, since for the most part it has already been realized, but the trading instrument #Bitcoin can work the 74 500 - 74 000 level without much trouble in the very near future.