• Rahul Firez

Where is Bitcoin is heading from here, should we start buying ?

Bitcoin is trading between 40000$ to 33000$ from last 10 days, in this post we will discuss about how more bitcoin can fall or should we start buying it.

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As shown in the above image currently bitcoin is trading in Descending triangle pattern as we know that descending triangle is primarily known for bearish view, if any succeeding day bitcoin closed below 32500$ on daily chart , then bitcoin may start falling.

the first support on daily chart is around 29200$ and the major support at the level of 23875$ and 19615$ respectively.

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As per the market sentiment, Bitcoin unlikely to break the support, but anything can be happen in the market one bad news can the table.

But if Bitcoin breaks the above the triangle we may see fresh buying until the first major support around 40500$.

40500$ is first major hurdle to bitcoin, if it breaks that level we may see 50000$ in the upcoming days.

What do you think about Bitcoin price How much it could fall or rise please comment your opinion.

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