What To Expect From Bitcoin After 10% Drop

The Bitcoin struggled today against USD and lost in value over 10%. However, technically, it does not appear that Bitcoin reached any strong either psychological or technical resistance levels.

After breaking above 261.8% Fibonacci retracement level, the nearest technical resistance level seems to be 361.8% Fibs retracement, with a price tag of USD 3,800.

At the same time, a nearest psychological barrier that Bitcoin will have to overcome is USD4,000.

So we have a price range between USD 3,800 and 4,000 where high volatility is likely to happen. At that price range bitcoin will show us whether it wants to repeat the history by correcting back 80% or completely dominate and surge towards 10k mark.

On the other hand, anything can happen. Trade safe and profits to all!!



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