The biggest cryptocurrency with its market value fell sharply just as a country made Bitcoin its official currency for the first time in the world. Bitcoin was traded over $52 thousand during the day, then fell below $43 thousand with the hard sales in the evening hours of TSI. The drop in Bitcoin has caused other major cryptocurrencies to experience drops of up to 20 percent.
Levels to watch in Bitcoin
After the pullbacks, the short-term technical outlook in BTC is as follows:
In the chart, which received a strong selling reaction from the main resistance zone, which we specified in the medium term, the Ending Channel formation was targeted. Although it is positive that the daily candles did not close below the 46250 level, which we specified as the second main support, this support was tried for the third time. If the candle closes below the support level, 40800 and 37900 levels can be seen. 49660 on the ups and 52920 as the main resistance should be followed.
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