Bitcoin (BTC) is again heading downwards. In the recent downturn, it has gone up to a level of $ 3560. Many experts believe that if it heads any lower, it can actually become bearish once again. That is why it is essential to monitor the proper levels for Bitcoin (BTC). The only question is the levels for which you should watch out.
Which are the levels to watch out for in Bitcoin (BTC)?
The yesterday’s rally is a thing of the past. That is why the volatility is once again at its peak. Many investors think that Bitcoin (BTC) might have bottomed out. The only bit of problem is that if it hasn’t, it can head much lower than $ 3000 as well. The general perception is that the year 2019 will not bring in more trouble for Bitcoin (BTC) as well as other mainstream cryptocurrencies. However, the first month itself is proving to be very challenging. It is because Bitcoin (BTC) has not been able to clear the resistance of $ 4000.
As a trader, if you are closely watching out Bitcoin (BTC), it is time to watch out for the levels of $ 3500 and $ 3400. After that, if it breaks $ 3000 as well, it will be very challenging for Bitcoin (BTC) to recover. In such a case, it may head to even the newer lows. Considering the fact that it is falling from $ 20,000, the pain can get still deeper which will make it very difficult for the investors to have any courage to go for bottom fishing. If it breaks $ 3000, it clearly indicates that no support is strong enough for Bitcoin (BTC).