Wednesday’s Asian trading session has seen Bitcoin prices tumble below $40,000 for the first time since February 6. The asset dropped to a low of just below $39,000 a couple of hours ago, according to Tradingview.
BTC is now trading at support on the 200-day moving average, which serves as a crucial level in determining whether this is a major correction in a bull market or the beginnings of a full-blown bear market.
BTC/USD 1D Binance – Tradingview.com
The next couple of days will be critical for Bitcoin and cryptocurrency markets in general, as a break below current levels is likely to spell the end of this rally.
Bitcoin Descending Wedge
Technical analyst ‘CryptoHamster’ has identified a descending wedge pattern which could be a good reversal point if we are still in the bull market.
Both #Bitcoin and #Ether are testing the bottom of a descending wedge.
Also, $BTC at its support zone and yesterday it was the red “9” by TDS and plenty of bullish divergencies.
It is the p
Źródło: https://cryptopotato.com/bitcoin-tumbles-below-39k-as-correction-hits-40/
