The post Bitcoin Breaks Key Support, $58,000 Next Target? appeared first on Coinpedia Fintech News
Bitcoin (BTC), the world’s largest cryptocurrency by market cap is poised for a significant price decline in the coming days. Due to the ongoing conflict between Iran and Israel, overall market sentiment has turned bearish, and BTC has breached its crucial support of $62,150 level.
BTC Current Price Momentum
BTC is currently trading near the $60,700 level and has experienced a price decline of over 4.1% in the past 24 hours. During the same period, its trading volume rose by 65%, indicating increased participation from traders and investors.
Bitcoin Technical Analysis and Upcoming Levels
According to the expert technical analysis, BTC appears bearish and is now heading toward the next support of $58,000 level. Despite the outlook, BTC remains above the 200 Exponential Moving Average (EMA) on a daily time frame, indicating an uptrend.
Source: Trading View
Despite the
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