There is a sell-out on the world’s most popular cryptocurrency – bitcoin. After the upward correction at the beginning of this week, the rate continues to move southwards, breaking the support level of $ 8,000. The current dynamics indicates that it is probably not the end of declines.
In the current situation, the next target for bears seems to be the previously tested support in the price region of $ 6,000. This level seems to be so strong that the reflection in this region is likely.
A possible negation of the downward trend will be breaking above the local resistance level of $ 8,400.
Risk Warning: The content of this analysis is for informational purposes only and does not constitute investment advice.
