Bitcoin
Bitcoin
Bitcoin has approached the psychological level of $20,000.
The cost of Bitcoin has come close to the psychological support level of $20,000 per coin, which is the lowest since 2020 and can already be considered historical. The capitalization of the cryptocurrency market as a whole is declining due to extreme market conditions and current global economic realities. Hence, Celsius Network, one of the largest crypto lenders in the world, has suspended withdrawals for its clients. This caused panic and a massive withdrawal of funds, as a result of which Bitcoin fell by another 18% and reached its low in a long-term downward trend. Huge hope in the form of pent-up demand below the $20,000 support level opens up the potential for a deep correction to the $25,000 level, which is the point of intersection of the resistance level and the trend line of the long-term descending channel. A potential possible breakdown and consolidation above this level leaves room for further recovery and growth in the volume of medium-term purchases.
Bitcoin has approached the psychological level of $20,000.
The cost of Bitcoin has come close to the psychological support level of $20,000 per coin, which is the lowest since 2020 and can already be considered historical. The capitalization of the cryptocurrency market as a whole is declining due to extreme market conditions and current global economic realities. Hence, Celsius Network, one of the largest crypto lenders in the world, has suspended withdrawals for its clients. This caused panic and a massive withdrawal of funds, as a result of which Bitcoin fell by another 18% and reached its low in a long-term downward trend. Huge hope in the form of pent-up demand below the $20,000 support level opens up the potential for a deep correction to the $25,000 level, which is the point of intersection of the resistance level and the trend line of the long-term descending channel. A potential possible breakdown and consolidation above this level leaves room for further recovery and growth in the volume of medium-term purchases.
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