Due to regulatory concerns causing panic among sellers and bears, Bitcoin prices continue to fall below $26000Trading volume remained at the low end, fuelling the bearish momentum in the field of CryptocurrencyThe price of Bitcoin has fallen significantly in the past trading day, dropping by over 6.5% to a low of $25388
- Due to regulatory concerns causing panic among sellers and bears, Bitcoin prices continue to fall below $26000
- Trading volume remained at the low end, fuelling the bearish momentum in the field of Cryptocurrency
The price of Bitcoin has fallen significantly in the past trading day, dropping by over 6.5% to a low of $25388. Despite the current recovery, prices continue to trade in a sharply bearish trend. However, prices seem to have gained strong support and may soon trigger a healthy rise in the coming days.
The current issue is whether the bottom of BTC has been reached, or are there any further lower targets to be tested?
The SEC's crackdown on Coin Security led to a significant drop in BTC prices, and when it charged Coinbase for operating unregistered securities, the prices remained basically unchanged. In addition, the withdrawal volume on Coin On is also lower than normal, indicating a strong mentality among market participants who hope for a positive increase in the coming days.
Considering the current price trend, as predicted by renowned analyst Shanzhai Coin Sherpa, the BTC bottom is considered to take some time to reach.
The analysts here emphasize three main areas that may become strong price support. The level of around $25000 has a lot of support, but the levels of around $24000 and $22800 have quite high trading volume. In addition, there is also a lot of support for levels around $25000 at 200DEMA, 200WEMA, 0.382FIB, and S/R levels.
Liquidity seems to be still below these levels, around $24000 and $23000. However, analysts still recommend waiting for a while before purchasing Bitcoin or any counterfeit currency. He further stated that the ideal buying time is when the BTC price may reach a bottom, which may take some time for a healthy consolidation.
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