10:35Bitcoin weekly forecast: New downcycle start towards supports targets $19,200 and $25,000
BITCOIN Bubble Again like 2017? or Gold Demand drop and BTC demand HIGH.
Institutional investor Jump in Crypto Market Help BTC hit all-time high 41,500$.
The BTC /USD pair broke below the critical support at the 50-day exponential moving average ($35,093) but found support at $30,688.10 near the 38.2% Fibonacci retracement level.
Bitcoin prices have rebounded slightly, following a sell-off from Friday’s high, where BTC /USD broke above $40,000, before facing a wall of resistance formed by the key psychological level of $42,000. The three-day sell-off resulted in a $10,000 depreciation in the digital currency, raising concern that the Bitcoin ‘bubble’ had officially burst. However, the pullback in prices is no comparison to the massive 949% surge from March 2020 low.
BTC still looking strong correction downside on monthly base towards Supports 28k and 25k and small crush or panic crush 17k to 19k$ where we can see new bull start towards long term target 75k$
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