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We are excited to introduce a new section of our blog – the technical analysis of the Bitcoin cryptocurrency. The goal of this section is to provide you with up-to-date information on Bitcoin price movements and key market highlights. Every week, we will share our observations and analysis with you, so you can stay informed about the latest trends. Keep an eye out for updates and stay connected with us!
Bitcoin finally dropped under 29000 and reached upper bound of 28350-28000 support area. There has been new lower low on Bitcoin and this is very important for the bears.
It is expected that this drop will continue and soon BTC might touch 28000 price level. Bitcoin showed that it’s unable to break 30000 resistance and this drop was expected.
There might be some correction above 29000 but it’s unlikely that price will go above 29500.
Best regards,
FYBIT Team
