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Trader: Bitcoin price could fall to $ 7,700

BTC bulls are desperately clinging to the level around 8. but in recent days there has been another drop in volumes. The rebound above 8 back.

$ BTC Update

Resistance resisted.

If S / R at $ 2020 s acts as resistance, then Do not fancy other support levels.

Additionally, HTF charts starting to look a bit rough. HTF update later. pic.twitter.com/T3IsE7sHK8

– Cred (@CryptoCred) . October 2020

BTC reached its low point at 7 , except for the dramatic crash of the . , Now, the current stability fueled fears of another sharp decline.

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In his analysis, Cred highlights the 8th 270 $ as a critical level which previously served as both support and resistance for Bitcoin. He suspects that if BTC encounters resistance again at this particular price level, the asset will most likely be eligible for support at 7 below. $ will fall back.

During the recent price decline, the price was expected to reach the mark of 6. $ or even towards 4 $ will fall. The current pricing behavior of BTC also recalls the autumn 2018, as a long period of stability to a crash on 3. The low point in December

Nevertheless, the Bitcoin network gives off bullish signals. It appears that despite the block halving in May After peak values ​​exceeded Mining activity once again set a new record at over , The number is up to times higher, a really strong development.

Bitcoin, which is marked by strong price movements, should no longer be a secret, and the leading cryptocurrency has repeatedly reached new highs.

Text Proof: bitcoinist

Last update: Monday, . October 2020