His statement discouraged demand for risk assets in general. The shares closed the stock market lower and bitcoin has depreciated in the following days. To this is added that the cryptocurrency was already coming from a fall from its maximum in three months of $25,000, to the level of $21,000.
Experts believe that the “sentiment is changing” and highlighted that the “bitcoin prices have not moved in any clear direction “although a small bearish tilt remains.” “The price range has been immensely narrow and there is no doubt that capitulation is coming for bitcoin“, it states.
“If we look at the current trend, then the odds are strong that the next move is likely to be down and that means that the price could fall to the $15,000 level”, he explained by Bolsamanía. Conversely, “if the bulls take control of the price action, and a breakout to the upside occurs, then the price of bitcoin could easily reach $32,000.
What other analysts say
Cryptocurrency analyst Raucrypto told Criptonoticias that the cryptocurrency “seeks the liquidity zone after losing the lower line of the ascending channel.” According to his projection, bitcoin would find support between $20,500 and $19,200.
For the GrandMage trader, bitcoin could hit $18,000 in this fall, which he considers “a new opportunity to make money offered by the market”. From a positive perspective, the investor Healthy Pockets also believes that the current low is just a bump to take advantage of later.
On the other hand, the CryptoLinea group of traders mentioned that they expect lower ranges for the cryptocurrency in the future. This because of we are close to starting September, a month that is considered bearish in the history of bitcoin.
Source: Ambito
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