Bitcoin trades to the lowest level since March 17

0
(0)
The price of bitcoin has moved to a new low for the day, week, and month and traded at the lowest level since March 17.

Looking at the 4-hour chart, the price this week also fell below a neckline of a head and shoulder formation.

On the downside, the 38.2% retracement of the move up from the November 22 low would target $25,071. Ahead of that would be swing highs going back to February around the $25,270 level. Move below the 38.2% and the door opens for more selling momentum.

Moving back above the $27,000 level would probably disappoint sellers, and back above the broken neckline would also hurt the sellers looking for more follow-through selling off of the head and shoulders break.

This article was written by Greg Michalowski at www.forexlive.com.

Go to Forexlive

Wie hilfreich war dieser Beitrag?

Klicke auf die Sterne um zu bewerten!

Durchschnittliche Bewertung 0 / 5. Anzahl Bewertungen: 0

Bisher keine Bewertungen! Sei der Erste, der diesen Beitrag bewertet.

Es tut uns leid, dass der Beitrag für dich nicht hilfreich war!

Lasse uns diesen Beitrag verbessern!

Wie können wir diesen Beitrag verbessern?