Bitcoin (BTC) Rejected again: $100,000 Target if Bounce Fails

Bitcoin has moved into dangerous ￰0￱ bears have the upper hand as a move further down to $100,000 is starting to become a distinct ￰1￱ the $BTC price take the plunge, or will a last-ditch bounce save the day? How far down will this reversal impulse take $BTC?). This average has provided support to the bull market all the way through up to ￰2￱ the odd short candle wick has pierced through it at what were very difficult, but pivotal times for the Bitcoin ￰3￱ the 50-week SMA is to continue to provide that last support, it would suggest that the $BTC price won’t in fact go all the way down to the $98,000 level. $100,000 might just be a possibility if a candle wick came down that ￰4￱ course, there is the possibility that the 50-week SMA could provide the signal that the bull market is over, should the price close and confirm ￰5￱ last factor to consider is the Stochastic ￰6￱ negative price action since the all-time high has helped to bring the indicators almost down to the ￰7￱ one looks left at the last time this occurred, one can observe the near 70% rally that took ￰8￱ may be balanced on a knife edge, but they may be far from over yet.

Disclaimer: This article is provided for informational purposes ￰9￱ is not offered or intended to be used as legal, tax, investment, financial, or other advice.