Currently @ $39,000
Bitcoin has been facing some downward pressure lately & any upward movement
could possibly be just a retracement before another fall
Although the pair is now treating one of the key trendlines as support
it still seems limited to resistance @ $42,000 & another minor downward trendline
@ $40,700
If it decides to respect this downward trendline & treats it as resistance we would
expect the pair to fall back to $30,000 & if it breaks below this support level
the next support will possibly be in the $20,000 range
Will bitcoin recover to $65,000? maybe but for now there is a higher chance for it to fall
to $20,000 than it recovering back to $65,000
Link to previous analysis below
Bitcoin has been facing some downward pressure lately & any upward movement
could possibly be just a retracement before another fall
Although the pair is now treating one of the key trendlines as support
it still seems limited to resistance @ $42,000 & another minor downward trendline
@ $40,700
If it decides to respect this downward trendline & treats it as resistance we would
expect the pair to fall back to $30,000 & if it breaks below this support level
the next support will possibly be in the $20,000 range
Will bitcoin recover to $65,000? maybe but for now there is a higher chance for it to fall
to $20,000 than it recovering back to $65,000
Link to previous analysis below
