In our last Bitcoin forecast, we wrote that the price has broken a support and therefore will target the support of about $19,000 in the short term. Similarly, we wrote that the price could fall to about $16,400 if the support of $19,000 does not hold. As a result, the price fell to $19,000 and stabilized there. A short time later, the price has recovered and it has risen again. Now the price is at about $21,000, having tested the resistance of $21,800. But how could it go on with the Bitcoin course now? Will he crash again this week? We from CryptoTicker will tell you about the Bitcoin course today!
Will there be a new price crash for Bitcoin?
BTC/USD Sideways
The Bitcoin price was able to reach the resistance of $21,800 during the weekend and thus the upper edge of the current sideways phase. In the past, the BTC price has always fallen to the next support ($19,000). Due to this, we now again assume that the course will reach this support. This would cause a price crash of about 10%. However, the Bitcoin price still has an “intermediate support”. This is at about $20,200. There the price could recover for a short time and find a few buyers, so there could be a short-term increase. Nevertheless, the descent to $19,000 is very likely.
Is the Bitcoin sentiment still bearish?
BTC/USD
If we look at the last two price movements of Bitcoin, we can see that the volume increases with a price decline and decreases with a price increase. Due to this, the mood continues to be rather bearish. This price behavior indicates a downward trend in the chart analysis. However, since the price is in a sideways phase, the price could soon break out towards the south! Because of this, you should now be particularly attentive.
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