The post Bitcoin is Done With a Correction, A Downfall to Follow Dragging BTC Price Closer to $28,000 appeared first on Coinpedia Fintech News
It has been a few hours since the Bitcoin price slipped below the crucial $29,000 resistance levels and has been constantly failing to regain them. The month, which started with a huge plunge, is one of the highest drops in the past seven days. The BTC price is barely moving as the volatility is very low. The volatility levels have been recorded as the second-lowest levels in history after December 2016.
Previously, whenever the volatility dropped to such low levels, it resulted in a bullish breakout, with the crypto gaining more than 30% of its value. Hence, volatility is considered an early bull run activity that is building the foundation for huge spikes similar to those of 2015-16. However, the short-term analysis is pretty bearish and flashes the possibility of plunging close to $29,300 or lower soon.
Bitcoin broke out of the support zo
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