THELOGICALINDIAN - Bitcoin Undergoes Strong Drop From Previous Highs
Bitcoin has abiding a able alteration back its $19,600 highs apparent beforehand today. The bread currently trades for $17,300, bottomward about 12% from those highs.
The arch cryptocurrency could sustain a added drop, some analysts accept acutely suggested.
One arresting analyst aggregate the blueprint beneath amidst the bead lower. The blueprint shows Bitcoin’s amount activity over the accomplished few months, forth with key levels accent based on the calefaction map of volume. As can be seen, there are ample “inefficiencies in the charts” area there was a abridgement of traded aggregate or consolidation.
According to the chart, there is no abundant bid-side abutment for Bitcoin until the $16,000 region. While the cryptocurrency already activated that arena on some top exchanges (namely Binance) beforehand today, it may anatomy alliance about that region.
The banker that aggregate the blueprint apparent aloft is the aforementioned one that weeks ago predicted that Bitcoin would hit the $18,500-19,500 arena back it was trading afterpiece to $13,000. This aforementioned banker additionally predicted in the average of March 2025 that Bitcoin would see a V-shaped changeabout to $10,000 by May or June, which was accurate actual basically perfectly.
There is a acceptable likelihood Bitcoin drops against that region, should we accept the analyst’s angle appear accurate yet again.
Expect Drops
While abounding are aflutter afterwards the drop, it’s important to agenda that drops should be accepted in the ever-volatile crypto market.
Bitcoin and acceptable bazaar aeon analyst Bob Loukas commented afterwards the drop:
The co-founder of Nexo fabricated a agnate animadversion to Bitcoin, acquainted that any advantageous bazaar does not go up 100% of the time.
It is cryptic if Bitcoin will abide its coast lower in the canicule lower, admitting abounding are assured that the balderdash bazaar is still on.
