Is Bitcoin (BTC) Ready To Crash Below $7k?
- 4 years ago
Is Bitcoin (BTC) Ready To Crash Below $7k?
Bitcoin (BTC) has finally begun its downtrend and is currently trading below the key support level of $7,400. The price remained range bound for a long time but is now expected to take a definitive direction. Traders might want to wait and see how the price trades around the 200 moving average. If it declines below that and subsequently the $7,193 level, that might be an opportunity to go short. If BTC/USD declines below $7k a lot of cryptocurrencies including large cap coins like Ethereum (ETH) will be hit the hardest especially because they have already lost much ground against Bitcoin (BTC) and haven’t had the time tor recoup their losses just yet.
Bitcoin (BTC) has finally begun its downtrend and is currently trading below the key support level of $7,400. The price remained range bound for a long time but is now expected to take a definitive direction. Traders might want to wait and see how the price trades around the 200 moving average. If it declines below that and subsequently the $7,193 level, that might be an opportunity to go short. If BTC/USD declines below $7k a lot of cryptocurrencies including large cap coins like Ethereum (ETH) will be hit the hardest especially because they have already lost much ground against Bitcoin (BTC) and haven’t had the time tor recoup their losses just yet.