Bitcoin (BTC), which has lost nearly 10% in value in a short period of time, continues its dangerous price movements, how can the direction of BTC move forward?
The leader of cryptocurrencies, which has been in a downtrend for about five days, already seems to frighten investors for the direction it will draw. BTC, which showed a decrease of up to 10 percent in the decline process that started from $ 30 thousand, is on the agenda with risky price movements. BTC, which has been experiencing a spring mood in the crypto world in recent weeks, has reversed the momentum with this performance in a short time frame.
How can BTC sustain its price movements in this process where crypto investors are used to the uptrend?
Bitcoin (BTC) Chart Analysis
BTC, which started to decline from $30,000 to $27,200, lost more than 10 percent of its value. BTC, which has been “buyers” many times at $ 27,200, continues to maintain this level as support. Currently, BTC, which is below $ 27,750, is of great importance for it to clearly overcome this resistance in order for the rises to begin.
In case $27,750 is exceeded, breaking the $28,250 – $28,750 and $29,180 resistances, respectively, could open the way for major rises in the crypto market. If the possible bearish scenario continues, the $26,650 – $26,500 range can be followed as support. In the process when this price band does not work, withdrawals to $ 25,200 on the BTC side will be on the table.
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