ALL >> Investing---Finance >> View Article
How Low Will Bitcoin Go: Here Are The Bottoms For The Ongoing Bearish Trend
The price of Bitcoin had a sharp decline in the most recent trading day, losing more than 6.5% of its value and hitting a low of $25,388. The price remains in a severe bearish trend despite the current improvement. The price, however, seems to have found solid support and may shortly begin a healthy rebound in the days to come.
The question currently emerging is how low will bitcoin go? Whether the BTC bottoms have been reached or if lower goals still need to be tested is the question that is now being asked.
The SEC's crackdown on Binance resulted in a sharp decline in the price of bitcoin, but when it fined Coinbase for managing unregistered securities, the price remained almost unchanged. Additionally, withdrawals on Binance were also below average levels, demonstrating the positive outlook of market participants who are anticipating a nice increase in the coming days.
According to a well-known analyst, Altcoin Sherpa, the BTC bottom is anticipated to come at its own pace given the present price pattern.
The analyst here identifies three key locations that could function as price supports effectively. ...
... The levels around $25,000 carry a lot of support, but the levels around $24,000 and $22,800 have pretty high volumes. Moreover, the levels around $25,000 also have a lot of support with the 200D EMA, 200W EMA, 0.382 FIB levels, and S/R levels.
Around $24,000 and $23,000, the liquidity still seems to be considerably lower than these levels. The analyst nevertheless advises waiting a little longer before purchasing Bitcoin or any alternative cryptocurrency. The best time to buy, according to him, would be when the price of bitcoin forms a bottom, which might take some time with a decent amount of consolidation.
Reference - Coinpedia Bitcoin Price Prediction - https://coinpedia.org/price-prediction/bitcoin-price-prediction/
Add Comment
Investing / Finance Articles
1. Top 5 Loan Secrets For Women EntrepreneursAuthor: Mpower Credcure Team
2. Mastering Currency Trading: Strategies For Profitable Returns
Author: hoardingonrent
3. Unlock The Secrets Of Itin Application: Your Guide To Obtaining An Itin Number For Non-us Citizens
Author: itin.support
4. Simplify Your Itin Application Process And Save With Our New Year Discount
Author: itin.support
5. Paystand Named Winner Of Fintech Breakthrough Award For Defi Innovation
Author: Orson Amiri
6. How To Sell Usdt In Dubai: A Comprehensive Guide
Author: cryptodubaiotc
7. Navigating The European Crypto Landscape: A Guide To Buying Usdt In Europe
Author: cryptoeuropeotc
8. Exploring The Rise Of Usdt Otc In Dubai: A Hub For Crypto Investors
Author: cryptodubaiotc
9. Explorez En Toute Sérénité Avec Un Guide Compétent : Voyage Privé En Inde
Author: Voyage en Inde en 2024
10. Mastering The Art Of Profitable Trading: Strategies And Tips
Author: hoardingonrent
11. Take Profit Order - A Quick Review And How It Works?
Author: Growlonix
12. Federal Interest Rate And Forex Market
Author: Shyamkumar
13. How Does A Loan Against Mutual Funds Help A Financial Emergency?
Author: Abhi
14. Crypto Trading Signals – A Better Opportunity To Trade Like A Pro In 2024
Author: Growlonix
15. How To Check Loans Using A Pan Card
Author: Loanswale