22 Mar Move To $5,400 ? Bitcoin (BTC) In Trouble If Price Fails To Breach Above This Level
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Bitcoin (BTC) bulls failed to breach price past key resistance level at $6,400 USD signaling a possible reversal towards the $5,400 support level in coming days. In a largely uneventful weekend so far, bulls failure to re-capture the all-important $6,400 resistance level on the weekly charts provides a major selling signal on BTC/USD pair.
BTC/USD rejects key resistance at $6,400 USD
BTC/USD pair has had its problems in correlation with the rise of COVID-19 virus – dipping from yearly highs of $10,000 USD earlier in the year. Currently, the pair is trading in a sideways movement at $6,287 USD after bouncing off the $6,400-$6,500 USD resistance region.
3/ From a market perspective, here’s the opportunity as I see it:
If global markets freak out again, then there are any number of lows in the $5000s, $4000s and $3000s that $BTC could reach. Other #cryptoassets would test their own lows.
— Chris Burniske (@cburniske) March 21, 2020
On the…
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