Thursday , 24 June 2021

If Bitcoin Breaks Below $10,000 Again We Could See A Further Dramatic & Swift Plunge in Price

…[Bitcoin] fell yesterday by 7% to below 10,000, just shy of its 50%bitcoin-crypto Fibonacci retracement level of 9,947.6, shown on the following Monthly chart and, should it break below 10,000 again (it bounced up to 10,967 overnight), and holds…[at] the 50% Fib level, we could see a dramatic and swift plunge in price.

The original article by Candy Matheson has been edited here for length (…) and clarity ([ ]) by to provide a fast & easy read.

…10,000 represents a major support level, formed by a downward-sloping neckline of a bearish Head & Shoulders pattern. It spiked below 10,000 on Tuesday to a low of 9,949.4 before bouncing a bit to its current price of 10,967.

If BITCOIN breaks below 10,000 (again) and holds (as well as the 50% Fib level of 9,947.6), we could see a dramatic and swift plunge in price. A measured move of such a break would send it back to its all-time low.

This crypto currency is no stranger to volatility, so anything is possible. Buckle up! 

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