Table of Contents
In our previous analysis Warning: -12% Dump very Likely For Bitcoin! we talked about the $22,394 minor support in the 4-hour timeframe. We also warned our readers that this $22,394 minor support was the only level stopping Bitcoin from a potential -12% dump in price.
Well as we speak, that $22,394 minor support has finally been broken. This bearish break increases the possibility for that bearish prediction we made in our previous analysis to play out.
In this Bitcoin analysis, we will be breaking down the new key level we are currently watching as well as the price targets for this move lower.
To trade ETH with leverage, sign-up to Bybit right now! Bybit’s BIGGEST Bonus Campaign is now live! You can get up to a $4,450 Bonus and up to 30 days of 0% Maker fee when you sign-up and fund your Bybit account with our Bybit link
Bitcoin Selling Off As Predicted!
The Bitcoin price has finally broken through the $22,394 minor support in the 4-hour timeframe. And right now, the BTC price is currently trending lower exactly as we predicted.
This movement lower has a very high probability of pushing Bitcoin back to the bottom of the larger Channel Pattern the BTC price has been ranging in for weeks now.
What we are currently witnessing is the start of the sell-off! And a bearish move like this means we still have a potential -10% drop for Bitcoin in the coming days.
Easy Steps From Beginner To Pro Crypto Trader
You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best Bitcoin Exchanges To Trade With.
PrimeXBT Covesting: Trade Hassel Free
Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 25% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link PrimeXBT Covesting
