Bitcoin / USD analysis today: a possible decline in Bitcoin in the near future


Bitcoin tried to rally at the beginning of Tuesday's session but continued to struggle with the thought of the $ 20,000 level above. this is often interesting as long as the market suffered within the same place it did a couple of years ago, before the huge crash. Don't misunderstand, I do not expect a huge meltdown, but what I do realize is that a particular amount of "market memory" is at work immediately. Ultimately, I feel this market is more supported by the US dollar than anything. It should be noted that the US dollar rose slightly during the trading session and is usually oversold. For this reason, we'd see a touch of a pullback in Bitcoin, and quite frankly I feel that's welcome.


 watching the chart it's interesting that we tend to travel in increments of $ 2000, and this is often one of the most theories on which I build my trading plan. At now, I feel the $ 18,000 level will likely be tested, but I also expect that we could collapse a touch below that. I feel Bitcoin could find itself moving towards the $ 16,000 level, which should honestly attract a particular amount of attention given the very fact that not only is it the world that we've previously bounced back from, but it also contains the 50 days EMA.


 If we break down below the 50 days EMA, we could take another $ 2000 back to the $ 14000 level. Next, you're talking a few moves all thanks to the $ 12,000 level. I do not necessarily think we'll attend that level, but if we do, I might expect a huge amount of support given the very fact that this is often where the market took off to start this major leg higher. In therein case, I feel tons of individuals would "completely" jump into the market. At that time, I might expect tons of long-term traders to seem to take a position more. Quite frankly, although the market will go down drastically to urge there, this is not an enormous surprise during a market like Bitcoin. On the opposite hand, if we were to interrupt above the $ 20,000 level on the daily chart, then we might continue rising. Ultimately, the sole thing we'd like to as certain is to spend time and absorb the gains 



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