How Low Will Bitcoin Go: Here Are The Bottoms For The Ongoing Bearish Trend

By Author: Adam Gil
Total Articles: 4
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The price of Bitcoin had a sharp decline in the most recent trading day, losing more than 6.5% of its value and hitting a low of $25,388. The price remains in a severe bearish trend despite the current improvement. The price, however, seems to have found solid support and may shortly begin a healthy rebound in the days to come.

The question currently emerging is how low will bitcoin go? Whether the BTC bottoms have been reached or if lower goals still need to be tested is the question that is now being asked.

The SEC's crackdown on Binance resulted in a sharp decline in the price of bitcoin, but when it fined Coinbase for managing unregistered securities, the price remained almost unchanged. Additionally, withdrawals on Binance were also below average levels, demonstrating the positive outlook of market participants who are anticipating a nice increase in the coming days.

According to a well-known analyst, Altcoin Sherpa, the BTC bottom is anticipated to come at its own pace given the present price pattern.
The analyst here identifies three key locations that could function as price supports effectively. ...
... The levels around $25,000 carry a lot of support, but the levels around $24,000 and $22,800 have pretty high volumes. Moreover, the levels around $25,000 also have a lot of support with the 200D EMA, 200W EMA, 0.382 FIB levels, and S/R levels.

Around $24,000 and $23,000, the liquidity still seems to be considerably lower than these levels. The analyst nevertheless advises waiting a little longer before purchasing Bitcoin or any alternative cryptocurrency. The best time to buy, according to him, would be when the price of bitcoin forms a bottom, which might take some time with a decent amount of consolidation.

Reference - Coinpedia Bitcoin Price Prediction - https://coinpedia.org/price-prediction/bitcoin-price-prediction/