THE UNITED KINGDOM AIMS TO USE BLOCKCHAIN IN COMMERCIAL RELATIONS
DAILY CRYPTOCURRENCY ANALYSIS
BITCOIN [BTC] 417541.27 TRY
BTCUSD is located in the retracement process and priced in an oversold period in a daily chart. In this concept, cryptocurrency trying to break 7385 support. It is tough that if it goes under the support level, the next level can be 6959. However, if it turns to its upward movements, the resistance level considered as 7730. When we consider the reverse Head&Shoulders formation which appears on a weekly chart, BTCUSD may complete the right shoulder. In the concept of formation that seen on the weekly chart, downward movements up to 7395 can be met normally. When everything realized as expected, upward movements can be evaluated for BTCUSD. However, if the 7395 support is broken, the decreasing movements may continue for a while.
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