Key control
- Bitcoin fell below the level of $ 80,000 on Sunday night, tracking the futures of the very low American actions index amid the intensifier concerns about the impact of the rates.
- The 50 -day mastery has crossed under the 200 -day mastery to form an ominous cross of death, a graphic pattern that warns about greater sale.
- Investors must observe key support levels about $ 74,000, $ 65,000 and $ 57,000, while monitoring an important general expenses area about $ 87,000.
Bitcoin (BTCUSD) fell below the level of $ 80,000 on Sunday night, tracking the futures of the index of very low US actions amid intensifying concerns about the impact of tariffs.
The pioneer cryptocurrency fell 5% to around $ 79,000, since market participants prepared for greater market volatility after China responded on Friday to recently announced radical rates of the Trump administration with retaliation tasks, increasing concerns of a prolonged commercial war that could unleash a world recession.
Bitcoin also continues to face the pressure for sale of the settlements, an event in which the fall of prices force merchants to sell their upward bets in the cryptocurrency with losses. According to the Crypto Analytics site HornBitcoin has suffered $ 250 million in long liquidations in the last 24 hours, the highest amount since March 7. Bitcoin has fallen 15% to date after more than duplicating last year on regulatory tail winds.
Next, we observe more closely the Bitcoin graph and apply a technical analysis to identify the key prices levels that are worth observing in a defeat in the global market -based market.
Death Cross in Focus
After falling below the 200 -day mobile (MA) average last month, the price of Bitcoin was consolidated within an ascending wedge before decomposing below the bearish pattern at the end of March, which indicates a lower continuation movement.
In fact, the price of the cryptocurrency has continued its bearish trend, with an accelerated decrease on Sunday night after a brief period of drift of lateral. It is also worth noting that the 50 -day M has crossed below the 200 -day MA to form an ominous cross of death, a graphic pattern that warns of greater sale.
Let us identify three key support levels in the Bitcoin table that investors may be observing and also locate an important upper area in sight during possible recovery efforts in the price of cryptocurrency.
Key support levels to see
A breakdown below last month could see a movement to around $ 74,000. This area in the Bitcoin table can provide support near a trend line of several months that connects the outstanding March peak last year and the maximum of end of October that preceded the November sprout fed by the elections.
The failure of the bulls in defending this important technical level could trigger a decrease to the level of $ 65,000. The price of cryptocurrency can attract support in this region near the Picos of August and September last year, which are closely align with the October channel.
Interestingly, this location is also found in the same neighborhood that a projected bar pattern target that takes the lowest bitcoin movement in the end of January at the beginning of March and repositions it from the breakdown point of the ascending wedge pattern.
An additional sale could put into play the level of $ 57,000. Investors can seek to accumulate Bitcoin near May Swing Low last year, and the area is also located just above three prominent channels that were formed in the table between July and September.
Superior area to the main view in sight
During possible recovery efforts in the price of Bitcoin, investors must observe the $ 87,000 area. This region currently provides a confluence of resistance to the general expenses of more than 50 and 200 days and a range of comparable negotiation levels in the table that dates back to early November last year.
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