Bitcoin has been suffering greatly as of late, but is it for it to sink even lower? Bitcoin is not showing any signs of momentum, nor does it appear poised for a strong recovery, so probably the worst is yet to come.
Unless we see a quick move up to retest the $6,000 breakdown level, the volume on these drops will not slow down.
If the price drops below $4,000, the next area of support isn’t until $3,000 to $3,500. Still, it looks like a retrace of the 2017 move that led to BTC reaching its all-time high near $20,000.
Just an opinion, not a trading advice, as the cryptocurrency industry has shown us it is virtually capable of anything.
Unless we see a quick move up to retest the $6,000 breakdown level, the volume on these drops will not slow down.
If the price drops below $4,000, the next area of support isn’t until $3,000 to $3,500. Still, it looks like a retrace of the 2017 move that led to BTC reaching its all-time high near $20,000.
Just an opinion, not a trading advice, as the cryptocurrency industry has shown us it is virtually capable of anything.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.