At last, we are back at it again. A lot of questions regarding the next move of bitcoin price. Is bitcoin now in the bearish phase? What’s responsible for the sudden plunge? Basically, our last article predicted as a rise in the price of bitcoin. We had a statement against bitcoin and altcoin by the US president. The move was absolutely against the small players. Basically, there are whales who control these markets and we can only help ourselves by playing alongside these giants. Unfortunately, our target barely hit $13,000 before taking a dive.
Bitcoin Price Expectation This Week
We presently cannot conclude if bitcoin has entered the bearish zone, but we know for sure that it’s not a good time to invest in bitcoin. So we just have to be patient and hope we get a pullback at the touch of $8,899. $8,899 seem to be the next support level for the bitcoin price drop, but we might see deeper moves. Nevertheless, it’s not a good time to buy bitcoin.
Looking at the technical indicators:
Major Support Level – $8,899
Major Resistance Level – $10,499
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