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Is Another Bitcoin Price Fall On Its Way? - Technical Analysis.
2021-12-11 | Daniel Smith
The logical study of Bitcoin
As per Katie Stockton of Fair field Strategies, a technical indicators business, the long-term outlook on the cryptocurrency market continues to be favorable, despite the fact that the bulk of digital assets on the market has taken a significant hit. On Sunday, the commodity plummeted rapidly below the trendline that was functioning as a support zone around $52,000, confirming the first breach in Bitcoin's trend. For the time being, the first cryptocurrency is trading much under that level, at around $47,700.
BTC/USD TRADING CHART - SOURCE: TRADINGVIEW.COM
As per experts, Bitcoin's following support level is $37,000, which would have been the weakest position in August. The crypto is still a danger of falling within that range in the following two months. Stockton further claims that it is hard to anticipate the precise location of another collapse, but he feels that a breakdown of the $44,000 support zone might send the asset immediately into the following $37,000 region.
