Bitcoin's Next Leg Down
The last 24 hours have been quite dramatic for Bitcoin, falling almost 21% from highs to lows.
A few hours ago, bitcoin bounced quite sharply from the up sloping trend line, regaining some ground. I'm unsure if that is enough to go back to the 40k area, though.
I see Bitcoin either reaching for the up sloping trend line again and reversing, or the price will fall straight to the next major support at 30k. In case we see another massive sell-off like we saw early March, we could even reach 20k again, but that would be highly unlikely.
A few hours ago, bitcoin bounced quite sharply from the up sloping trend line, regaining some ground. I'm unsure if that is enough to go back to the 40k area, though.
I see Bitcoin either reaching for the up sloping trend line again and reversing, or the price will fall straight to the next major support at 30k. In case we see another massive sell-off like we saw early March, we could even reach 20k again, but that would be highly unlikely.
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