Baxia Markets
January 19, 2022

Bitcoin continues downtrend

technical analysis top header -01

The cryptocurrency is down 2.43% in the last two trading sessions, the price trades below the short and long-term moving averages indicating an overall downward trend. Our parabolic SAR strengthens the short signals.


The Bollinger bands are opening up but they are starting to move downwards, which often indicates that a downtrend will continue in the short term, the price trades closer to the lower band but not close enough to expect a rebound. The pair could find support at the $40,500 levels in the short term.


BTC Jan 17th 2022


The relative strength index is at 35% which will allow Bitcoin to continue falling in the short term before entering an oversold status. Once the pair’s RSI reaches 30% or lower, we would expect a price correction.


We love to hear new ideas from traders and want to know what you think! 


If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.


Open Live Account  


Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 


Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.

Subscribe by Email