BITCOIN - Failure of sellers!



10/17/20220 min read

In the latest analysis of Bitcoin, dated October 12, it was stated that the condition for the continuation of the major downward movement of Bitcoin is the breaking of the key support range of $18,900-$18,500.

This range has been so strong for the fifth month that it has made further declines a nightmare for bears.

Along with the continuation of contractionary policies, not only in the Federal Reserve but also in most of the main economies of the world, the price of Bitcoin and other digital currencies is still under pressure, but these five months have shown that the market does not yet accept the price below 18500 dollars.

In the meantime, various news is heard about the use of cryptocurrencies by more and more countries.

So as long as the support range of 18,900-18,500 dollars is not broken, we can expect fluctuations between this support and resistance of 20,400-21,000 dollars.

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