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Bitcoin Is In For A Big Price Movement After Recent Consolidation
Summary: Over the past hours, Bitcoin has failed to remain above key support levels and has ended up back within its short term trading range between $9,000 and $9,300. The weakening signals of Bitcoin have caused analysts to place greater importance on its $9,000 support, with one arguing in a tweet that a break below this ...
Over the past hours, Bitcoin has failed to remain above key support levels and has ended up back within its short term trading range between $9,000 and $9,300.
The weakening signals of Bitcoin have caused analysts to place greater importance on its $9,000 support, with one arguing in a tweet that a break below this level could lead to the currency falling as low as $7,100.
Another analyst agreed that Bitcoin was in store for a big movement. He pointed to a wedge formation similar to one seen in 2019 before the price jump to above $13,800. If the pattern leads Bitcoin downwards this time, $7,100 would fit as a target.
By Emily Mason
Tags: Bitcoin,BTC
Link: Bitcoin Is In For A Big Price Movement After Recent Consolidation [Copy]
