Bitcoin’s (BTC) Price Could Start Dropping If Key Level Not Reclaimed, But This Strong Support Offers Hope

2024-2-18 14:30

Bitcoin recently rallied to $53,000 but has since dropped back down to around $51,000. According to crypto analyst Ali, if Bitcoin fails to quickly reclaim the $52,000 level, it risks facing an 8% correction. This could potentially send the price down to the range between $48,000 and $46,500.

Significant Support Lies Below Around $46,500

However, Ali notes there is significant support between $48,000 and $46,500, with over 1 million addresses holding more than 544,870 BTC in that price range.

This large accumulation of BTC indicates strong support on the chart. As such, any drop towards $46,500 could be met with significant buying pressure from bulls looking to defend this key level.

So while Bitcoin remains vulnerable to a correction if the $52,000 level is not reclaimed quickly, major support below $50,000 suggests any drop may be limited. As long as the critical support around $46,500 holds, the medium-term outlook could remain bullish.

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The post Bitcoin’s (BTC) Price Could Start Dropping If Key Level Not Reclaimed, But This Strong Support Offers Hope appeared first on CaptainAltcoin.

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Bitcoin (BTC) на Currencies.ru

$ 79164.54 (-0.13%)
Объем 24H $26.044b
Изменеия 24h: 2.14 %, 7d: 6.36 %
Cегодня L: $77946.12 - H: $79369.59
Капитализация $1584.975b Rank 1
Цена в час новости $ 51580.26 (53.48%)

bitcoin level analyst ali fails down crypto

Источник: captainaltcoin.com

bitcoin level → Результатов: 126


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