As Cryptocurrency Leader Bitcoin Falls, Investors Expect Rise

Bitcoin ended the week with horizontal movements. BTC, the leading cryptocurrency, which did not even move 1 percent this week, caused many investors to leave the sector.

Experts say that, trading at $19,250, the cryptocurrency leader Bitcoin is holding on at a critical support level. Although BTC seems to be trying to create a double bottom pattern, a trend reversal pattern, it is among the statements that it should now start a new uptrend from the $19,000 point in order to avoid new declines. When will it be time for BTC to make move? Bitcoin's movement in a horizontal trend breaks the interest in the cryptocurrency market. Bitcoin, which will close weekly tomorrow, may record sharp movements before this closing. The leading cryptocurrency, which needs to break through the $22,000 resistance for an uptrend to begin, continues to work against it every time it stays below this level. Although BTC's break above $22,000 could bring a rise to the $28,000-$30,000 levels, a downward break of the $19,000 support could lead to a decline to the $16,000 levels. Although altcoin investors have been devastated by these movements of the leading cryptocurrency, it would not be wrong to say that the crypto sector is slowly coming to the end of the bear season. Source: kriptopiyasasi.com The investment information, comments and recommendations contained herein do not constitute investment advice. Investment advisory services are provided on a personalized basis, taking into account the risk and return preferences of individuals. The content, comments and recommendations contained herein, which are in no way directive in nature, are of a general nature. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in line with your expectations.