Bitcoin is not exempted from the hit of the pandemic worldwide. It’s been so sad as the crypto market is been hit. The crypto market has been seen as a way out and a lot of investors resolved to cryptocurrency, yet situations beyond humanity present itself. Last week we expected that bitcoin will consolidate before continuing downwards. We did experience consolidation and we await the downwards movement. Notwithstanding, bitcoin price is at a resistance level, $6,342 and there is no guarantee of it surpassing this level. Nonetheless, bitcoin may still range for a while between $5,583 and $6,342, yet bitcoin price may still hit $4,913 soon. Now is when we should hold more fiat than bitcoin so as to take the surge of a sudden fall.
Looking at the technical indicators:
Major Support Level – $5,583
Major Resistance Level – $6,342
Our Recommended Exchanges for placing Crypto Trades
If you have any questions, leave it in the comment section below. Disclaimer: This article is in no way a financial advisor for your trading. Any action taken in this regard is done at your own risk. Nigerian Bitcoin Community is not liable for any loss or gain as a result of the application of this content. We advise you to do your own research.