❗ Bitcoin extends consolidation at low ground, suspect to furthe
Is BTC/USD waiting for Fed Chair Jerome Powell? While broader market events impact cryptocurrencies, the correlation is not as strong as it used to be. Nevertheless, the current calm is unlikely to last.
Bitcoin is trading between 22,131 and 22,612 and may extend its downtrend. It is pressured by the Silvergate scandal, the latest in a long list of issues in the crypto-sphere. Technically, it is trading below the 50 and 200 4h-SMAs, and has room to fall further.
Support below 22,131 is at 21,398 and then the round 20,000 level. Resistance above 22,612 is at 23,029 and then 24,000.
Bitcoin is trading between 22,131 and 22,612 and may extend its downtrend. It is pressured by the Silvergate scandal, the latest in a long list of issues in the crypto-sphere. Technically, it is trading below the 50 and 200 4h-SMAs, and has room to fall further.
Support below 22,131 is at 21,398 and then the round 20,000 level. Resistance above 22,612 is at 23,029 and then 24,000.
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