Forex Signal for BTC/USD: Bitcoin Could Drop To $55,000 Soon.
Forex Signal for BTC/USD: Bitcoin Could Drop To $55,000 Soon.
The pair will likely continue to decline as the bears target the next key support at 55,000.
Bear Market Outlook
- Sell the BTC/USD pair and add a stop loss at 55,000.
- Add take profit at 59,000.
- Timetable: 1-2 days.
Forex Signal for BTC/USD: Bitcoin Could Drop To $55,000 Soon.
Bull Market Outlook
- Set a buy-stop at 59,000 and take profit at 61,000.
- Add a stop-loss at 57,000.
BTC/USD price remains under pressure as investors focus on demand, trading at $57,600, roughly % 16,55 below its record high. Other altcoins such as Ethereum, Binance Coin, and Dogecoin also pulled back. According to CoinGecko, the combined market cap of all cryptocurrencies has dropped to over $2,7 trillion.
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