Bitcoin: BTC Crashes Below Key Support (November 2019)
- 5 years ago
Bitcoin: BTC Crashes Below Key Support (November 2019)
Bitcoin (BTC) has crashed below a key support since our last video analysis. There is not much left to speculation now as the move that we have been predicting for the past few weeks is about to come to fruition. The price has broken below $7,852 which is the 38.2% fib extension level from the December low to the yearly high. This is a big development and is extremely bearish. BTC/USD has now closed a 4H candle below it and there is a strong probability of a sharp decline of 20% or more from current levels. In case of a decline like that, we would be expecting the price to drop down to $6,717 if not much lower.
Bitcoin (BTC) has crashed below a key support since our last video analysis. There is not much left to speculation now as the move that we have been predicting for the past few weeks is about to come to fruition. The price has broken below $7,852 which is the 38.2% fib extension level from the December low to the yearly high. This is a big development and is extremely bearish. BTC/USD has now closed a 4H candle below it and there is a strong probability of a sharp decline of 20% or more from current levels. In case of a decline like that, we would be expecting the price to drop down to $6,717 if not much lower.