Bitcoin is going back down. 17,000 for the next support level.



8/27/20220 min read

This is a Bitcoin idea.

So as we predicted, Bitcoin is back to the 20K price zone, and now it's consolidating for a while before going back up to touch the middle Bollinger Band or falling down on the 17K channel.

Two support levels are holding the price up. The local one is the 17K price zone, and the solid one is the 12K price zone which can be our lowest price zone for Bitcoin.

There are also two resistance levels on the way. The local resistance level is the 30K level. Still, before we reach that price zone, we might get rejected by the Middle Bollinger Band. So watch out for that as well.

RSI is near the oversold area, so the price has room to go up, and the 17K price level is our more probable support level.

Now let's see your ideas. Let's have a discussion.

Let me know if you guys have any questions;

I will be more than happy to help.

Good luck, and thank you.