Bitcoin rate fell below $ 10.5 thousand
🚨IMMINENT DANGER FOR THE BITCOIN PRICE!!!!!!!!!!!!!🚨 [bounce or crash]
Today the price of bitcoin fell below $ 10.5 thousand again, getting closer to the level of psychological support.
The recent jump in the price to $ 12,325 coincided with the weakening of the yuan and many analysts linked these events, pointing to the use MTC for risk diversification. The current collapse comes amid the strengthening of the Chinese currency, which can be associated with the transfer of digital assets by investors back to fiat.
Whatever may be causes the fall in the rate, over these two days bitcoin has significantly surrendered its positions and is on the verge of testing support at the level of $ 10 thousand. the moment the candles on the chart are below the 5- and 10-day moving averages, and the relative strength index is below 50, which indicates the dominance of bears in the market
In case of successful protection of the current level and a rebound above $ 12 thousand, a downtrend will be broken. Maintaining the range of $ 10.5-11 thousand. also will open the door for further recovery.
The crypto market is known for its high volatility and difficulty in forecasting, so investment company and large funds stepped up the development of algorithms, which analyze social networks for determining market sentiment.