Bitcoin’s price has been very bullish over the last couple of months. However, it is finally showing subtle signs of correction today.
Therefore, it is worth analyzing the charts for potential support levels.
Technical Analysis
By TradingRage
Bitcoin Price Analysis: The Daily Chart
On the daily chart, the price has been blowing past resistance levels one by one. Yet, today’s action has been very bearish, as the daily candle looks very bearish. The price has dropped around 10% today before rebounding from the $40K support level.
In case this level holds, it could initiate a rebound, and the market might rally toward the next significant resistance level, which is located at the $48K mark. On the other hand, a bearish breakout could result in a drop to the $38K and potentially the $31K zone.
Source: TradingView
BTC Price on The 4-Hour Chart
The 4-hour chart demonstrates today’s decline much more clearly. The price has created a double top pattern around the $44,500 mark and proceed
We współpracy z: https://cryptopotato.com/whats-causing-the-current-bitcoin-crash-and-how-low-can-it-go-btc-price-analysis/
