Bitcoin Price Downtrend Continues, Here’s When Traders Can Expect Reversal!

The past seven days have been good for Bitcoin for the first time in a long time, although the bulk cryptocurrency market is declining slightly at the same time. This week, the price of Bitcoin was slowly declining, recovering some of what was lost, although it was not guaranteed.

In the case of all cryptocurrencies, ETH has the potential to recoup a significant resistance of more than $ 3,600 if the recent meeting continues, though it may face strong opposition. The $ 130 support halted the decline in SOL. Furthermore, Solana’s price rose sharply to $ 150, despite the best efforts of sellers. Despite the ADA’s push near the $ 1.2 support level, bears could lower this week to $ 1.1 over the weekend.

What Are the Consequences of Bitcoin Price?

Despite a sharp rise last week, bitcoin could not surpass $ 44.5K. On the road to $ 50K, there are several resistance levels, as we have seen on the chart. BTC was rejected by several of them, creating a risky barrier between $ 44.5K and $ 45,000.

The highest price of cryptocurrencies was around $ 41,000 this week, a sharp rise to $ 42K before falling to about $ 40K. However, cryptocurrency has been rising since then, reaching $ 44K on Thursday. At the time of writing, BTC was trading at $ 42,920.

Independent market expert Michal van de Poppe he realized The $ 46k resistance zone reflects the initial forecast for BTC price movements in January.

Following a failed $ 44,000 trial, Poppe issued the following statement, urging calmness because the way to the surface takes time to complete.

Bitcoin Did Not Leave Its HODLers

Enter the Block

The Selling Pressure has become smaller and more than 400k mediators have joined their HODLING BTC to become long-term owners this month. However, future income will not depend on one factor alone. A larger market should keep the net from being politically neutral or politically neutral, unless there is a chance that Bitcoin can challenge the stability that follows.

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