THELOGICALINDIAN - Bitcoin and the absolute crypto bazaar is afloat lower today with its amount falling afterward the able bounce apparent at about 23700 yesterday
The affairs burden actuality accepted to be absolutely acute and acquired it to see some notable downside. However, as apparent endless added times, this could prove to be a bear-trap that eventually works in BTC’s favor.
One banker believes that the advancing abatement could extend further, acquainted that he is watching for an closing analysis of Bitcoin’s clamminess aural the upper-$19,000 region.
Bitcoin Struggles to Maintain Momentum Following Yesterday’s Rejection
At the time of writing, Bitcoin is trading bottomward aloof over 1% at its accepted amount of $22,590. This marks a notable abatement from contempo highs of $23,700 that were set yesterday.
The massive billow to this akin accepted to be unsustainable, as buyers did not accept abundant abetment to advance it any higher.
The crypto may now see some alliance about its accepted amount levels afore it can billow higher.
Why One Trader is Watching for a Move to the Upper-$19,000 Region
One banker explained in a contempo cheep that he expects Bitcoin to analysis its ultimate clamminess and appeal area amid $19,600 and $20,000 at some point soon.
If this akin is broke in the near-term, Bitcoin charge column a able acknowledgment to it. Any abiding abatement below it could accessible the gates for the absolute market to see notable mid-term losses.
