Bitcoin Price Analysis: Macro Level Breaks as Bearish Continuation Ensues
- This morning, October 23, 2019, a strong impulsive move to the downside broke bitcoin’s macro support level at $7,900. The level was tested five times and, upon the fifth test, it gave way leading to fresh new lows.
- At the moment, the market is situated between macro levels of support and resistance and is hinting toward a continuation down to the $6,700s.
- Our currently monthly level is below support and could potentially see lows as far down as $6,400. However, the move is fresh and we need to see how the market reacts to the impulsive move.
Trading and investing in digital assets like bitcoin is highly speculative and comes with many risks. This price analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Inc sites do not necessarily reflect the opinion of BTC Inc. They should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.
The post Bitcoin Price Analysis: Macro Level Breaks as Bearish Continuation Ensues appeared first on Bitcoin Magazine.
Here’s Why One Analyst Expects Ethereum to Tap $275 Before Pushing Any Higher
[ad_1] Ethereum has been struggling to break above $400 for the past several days The…
Casa Launches In-Wallet Purchasing – Bitcoin Magazine
[ad_1] Bitcoin custody solution provider Casa has announced today that it is offering in-wallet bitcoin…
Analyst Explains Why the Ultimate Resistance Bitcoin Faces Is $11,500
[ad_1] Just a day before the weekly close, Bitcoin saw an explosive breakout as high…
BitBlockBoom Is Bringing Bitcoiners Back Together – Bitcoin Magazine
[ad_1] Gary Leland is hosting the third installment of the BitBlockBoom conference in Dallas, Texas…
The Post-Pandemic Rags To Riches Story
[ad_1] The pandemic has brought about tough times on many. The economy is struggling, jobless…
Bitcoin Black Friday 2020 Brings BTC Payments Back – Bitcoin Magazine
[ad_1] Before Bitcoin was a movement, it was a digital currency. While the store-of-value aspect…