The Bitcoin market has broken significantly during the trading session on Monday but then turned around to form a bit of a hammer: Forex Trading Forecast
has broken significantly during the trading session on Monday but then turned around to form a bit of a hammer.
This market will continue to see the $18,000 level is crucial, and therefore it is an area that we need to pay close attention to. If we were to break down below the $8000 level, that opens up the possibility of a much more significant drop.When you look at this chart, you can see that we have been consolidating for a while, and if we were to break it down below here, then it’s likely that the market could go much lower.
In that situation, it’s very likely that we could see the Bitcoin market drop all the way down to the $15,000 level, possibly even the $12,000 level. The $12,000 level is where the market had originally taken off from during the last massive bullish run, so there should be a lot of market memory in that area. I am going to continue to look at this through the prism ofif and when I get an opportunity, I am going to start building up a bigger position to hold onto for quite some time.
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