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  4. BITCOIN PRICE ANALYSIS CMP-$19300: Bulls are hopeless, Bitcoin rejected $20k ?

BITCOIN PRICE ANALYSIS CMP-$19300: Bulls are hopeless, Bitcoin rejected $20k ?

tylerwinklevoss
2022-10-21 07:02:42

If bitcoin does not break through the $19,650 barrier level, it may start a new downward trend. The channel trend line at the 200 hourly SMA and the $19,250 zone give immediate support on the downside. The major support is close to $19,000. Any more losses might lead to a drop near the $18,500 support level in the coming sessions. If the price stays below $18500, it might drop as low as $17500.

What is your opinion?

Post Reply  
elandicaprio
2022-10-21 07:03:59

As claimed by many analysts, Bitcoin will continue the current ups and downward trends for some times in near future may till it get the bottoming levels. As it stands, the downward trends will definitely continue and it means the current market situations remain bearish. Bear is holding very strong and I think we may be getting to it bottoming region. The market remains on a quick pump then, a sale off heading toward the bottom levels.