Bitcoin and Ether Could Nosedive.
Bitcoin![]()
Recently, bitcoin price started an upside correction above the $47,000 level. BTC climbed above the $48,000 resistance level and the 21 simple moving average (H1).
Recently, bitcoin price started an upside correction above the $47,000 level. BTC climbed above the $48,000 resistance level and the 21 simple moving average (H1).
However, the price faced a strong resistance near the $48,400 and $48,650 levels. The price is slowly moving lower and trading below $48,000. There is also a rising channel forming with support near $46,800 on the hourly chart.
$Bitcoin(BTC.CC$
$Bitcoin(BTC.CC$
A downside break below the channel support could push the price further lower below $46,000. The next major support sits at $45,000, below which there is a risk of a larger decline.
Part of the content is taken from Yahoo.
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