Will Bitcoin continue to fall or will it find a way to bounce back? The cryptocurrency is currently experiencing its lowest level in two weeks, trading around $22,600.
The pair had dipped to $22,378 earlier in the day, marking its lowest levels since Jan. 25 and a reinforcement of $22,400 as an important zone to watch.
“We tapped the swing low at $22,500 followed by a bounce. I would look for the bears to escalate the drop once we lose that low,” popular trader Crypto TonyFellow trader Crypto Chase likewiseto analysis from Feb. 8, fellow Twitter account TraderSZ showed Bitcoin dropping below $23,000, which he had warned would mean “moving hard lower.”
“BTC - clean break below dashed line then I think we get moving hard lower. Expansion phase very soon,” he wrote at the time. “It’s still support for now, but idk something feels off. Im@happy to catch something above jan high if market rips higher. Gut feel says lower first.”United States equities were marginally higher at the open, while the U.S. Dollar Index saw a comedown on the day, dropping back below the 103 mark.reacted“Classic retest of strong support as resistance at 103.82. Also starting to look like a potential head and shoulders top. Lots of signals that this little bull run will continue.”The day’s U.S.
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