Continuing its downward movement over the weekend BTCIt has seen the levels of 20800 dollars. In our previous analysis, we stated that these levels are important and provide a buying opportunity.
Bitcoin, which has not yet made a 4-hour close below these levels, seems to have moved upwards for now.
When we look at the current version of the chart, it is seen that the red trend line and $ 20800 levels are protected. In particular, it will be positive if the weekly closing, which will be held at 03:00 at night, is above 21,600 dollars.
In this case, it seems more logical for investors with BTC to not stop before $ 20,800 is broken.
On the other hand, data from the US stock markets in the new week will be one of the factors that are effective in determining the direction.
Fear and Greed Index
When we look at the Bitcoin fear and greed index, which measures market sentiment, it is seen that it is in a state of fear with 27 points.
Funding Rate Latest Situation
When we look at the funding rate, it is seen that short positions, that is, those who take bearish positions, are in the majority and the funding has gone into the negative direction.
It is known that the price generally moves in the opposite direction of the funding rate. In this context, looking at this data, upward movements seem more likely.
*Not investment advice.
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