free counter

This is actually the Main Target for the Bitcoin(BTC) Price in the Coming Fortnight!

It’s been a lot more than 60 days because the Bitcoin price consolidated below $25,000 shopping for a chance for a breakout. The recent spike near $25,000 was thought to be the revival of a bullish trend because the path towards $30,000 appeared pretty clear.

However, the recent price plunge slashed the asset lower hurting the traders sentiments who now believe the July lows could be retested again.

As the entire crypto space was somewhat bullish on BTC price, a favorite analyst il Capo of Crypto always warned his 483.6K followers concerning the upcoming dump. As the plunge has substantiated the claim, the analyst believes the Bitcoin bottom is yet to be reached.

Source: Twitter

As observed in the chart, the asset has divided from the trend line and therefore is thought to drain in a bearish well. However, the analyst believes that the purchase price may spike beyond $22,500 or $23,500, post to which a substantial drop may drag it towards the primary target at $16,000.

However, the support at $19,000 is likely to contain the asset firmly, if not the drop to the low levels could be imminent.

Collectively, the BTC price is on the verge of a notable price drain because the bearish flag formed may eventually drag the purchase price below $20,000 from the existing levels at $21,253 initially.

Was this writing helpful?

Photo of Sahana Vibhute

Sahana Vibhute

A separate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Read More

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker