Bitcoin- If 35k doesn't hold, 30k will be just a pit stop on 20k
Updated
A new wave of selling took over the crypto market again, and, after failing to stay above 40k figure and confirming 42k zone as strong resistance, bitcoin fell to 35 support.
At the time of writing, btcusd is trading at 36100 and looks pretty heavy.
As I said, 35k zone is support at this point and a break here would expose 30k again.
In my opinion, if bulls could not manage to hold 35, the drop will not stop to 30k for one simple reason, everyone looks at that support and it would be too easy.
The most likely scenario in the eventuality of o break under 35(which I expect), is a tight range trading at 30k and then a steep drop to 20k zone.
Time will tell, but as I m concerned, all crypto market is extremely bearish and to be bullish these days is wishful thinking.
At the time of writing, btcusd is trading at 36100 and looks pretty heavy.
As I said, 35k zone is support at this point and a break here would expose 30k again.
In my opinion, if bulls could not manage to hold 35, the drop will not stop to 30k for one simple reason, everyone looks at that support and it would be too easy.
The most likely scenario in the eventuality of o break under 35(which I expect), is a tight range trading at 30k and then a steep drop to 20k zone.
Time will tell, but as I m concerned, all crypto market is extremely bearish and to be bullish these days is wishful thinking.
Note
Close to 35kI don t think it will hold, as I said.
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