Hope this week has been productive for all. As we expected the price of bitcoin is fast crashing. This calls for serious caution. Several individuals are talking of the sudden drop in bitcoin price which is as a result present pandemic all over. Bitcoin dropped to $3,789, then gained a bit of balance on support $4,913 before retesting $4,407 and then back to $4,913. Please try not to trade bitcoin for now. More dips are yet to come as we maintain the downtrend. Bitcoin has lost $52% in just a week. As investors are channeling their funds elsewhere.
Looking at the technical indicators:
Major Support Level – $4,913
Major Resistance Level – $5,583
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