Bitcoin dropped hard today, Is the bottom in?
Updated
What happened today?
Bitcoin dropped about 9% in less than a day! so what can be the next move in this dangerous market? Is the bottom in?
Bitcoin status analysis
Bitcoin was in a big range zone for about a month(Between 46k and 52K), At the current time, Bitcoin lost 45700$ and 44000$ supports.
Also on the weekly timeframe, The whole condition is not good for BTC.
What is my analysis for the future?
In the short term, I expect to see Neutral movements between 44000$ and
42000$. I think The bottom in the short term can be 42000$ or 40000$. So for now I expect to see neutral movements between 44000$ and 42000$ for about 1 week.
In the long term, I expect to see more drops for Bitcoin. Bitcoin must see 30K and even 20K area this year.
Good Luck
Bitcoin dropped about 9% in less than a day! so what can be the next move in this dangerous market? Is the bottom in?
Bitcoin status analysis
Bitcoin was in a big range zone for about a month(Between 46k and 52K), At the current time, Bitcoin lost 45700$ and 44000$ supports.
Also on the weekly timeframe, The whole condition is not good for BTC.
What is my analysis for the future?
In the short term, I expect to see Neutral movements between 44000$ and
42000$. I think The bottom in the short term can be 42000$ or 40000$. So for now I expect to see neutral movements between 44000$ and 42000$ for about 1 week.
In the long term, I expect to see more drops for Bitcoin. Bitcoin must see 30K and even 20K area this year.
Good Luck
Note
According to your ask, I will publish an analysis especially for the long term, In this update, we will check all important signs and the Bitcoin weekly chart.Be tuned!
Note
40000$ will be seen in the next weeks.
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