BTCUSD. Bitcoin.
A simple breakdown of the price action on Bitcoin. There seems to be a good possibility of the price sliding lower, or at least back to the 30k level. A break of the 30k level may imply more weakness in the coming weeks.
Though it is clear that we're only in a corrective phase on all the cryptocurrencies, it may be a good idea to wait and see the further price movements before making investments. The crypto market is still weakening, and with the dollar becoming stronger, this may be a likely scenario.
A simple breakdown of the price action on Bitcoin. There seems to be a good possibility of the price sliding lower, or at least back to the 30k level. A break of the 30k level may imply more weakness in the coming weeks.
Though it is clear that we're only in a corrective phase on all the cryptocurrencies, it may be a good idea to wait and see the further price movements before making investments. The crypto market is still weakening, and with the dollar becoming stronger, this may be a likely scenario.
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