Bitcoin (BTC) declines below $47,000

Well, people, we certainly didn’t have to wait long for the outcome. The symbolic $50,000 resistance remained stoic, so bears continued to drag Bitcoin below $47,000.

Let’s face it, it wasn’t some kind of exceptional phenomenon. Market’s veterans have seen harder times caused by way more serious corrections. However, today’s events are a sign of BTC declining further down the descending channel until it meets the $32,000-$35,000 support level, unless some BTC maxis will pump up the market again.

MicroStrategy unfortunately didn’t manage to help the situation.

Altcoin traders have suffered from the hit too. The majority is losing in volume and only some are shooting up against all odds. 

The chart indicates a new pattern of local highs moving in the white trading range. Every new local high touched the bottom of the channel, showing low interest among buyers. It shouldn’t come as a surprise that the straight advance line inevitably led to Bitcoin’s decline.

If new highs don’t surge above previous ones, we will see new sell-offs and BTC will continue to fall.

Plus d’actions

I went full time crypto back in June 2018, and have never looked back. I want to help persuade as many people as possible to come and build the decentralised future! Let’s go!

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Back To Top


Get the best and most up-to-date crypto news straight to your inbox

Newsletter subscription


Read the latest newsletters
Click here

Free coaching

Free coaching/ Receive a free hour of coaching with an expert/ Fill in this form and our expert will contact you within 48 hours./Log into your coaching portal

© Copyright Cointribune - tous droits réservés

Agence Tempo