BTC/USD : Is BITCOIN going back to $20,000 ?
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
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Related publications
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.