Bitcoin price has now been rejected from $24,000 for the ‘nth’ time from now and appears to slash hard below $23,000 in the coming days. While the buying volume has apparently dropped in the past couple of days, the possibilities of a quick rebound also appear pretty low. Therefore, a significant drop may be expected in the coming days.
With the current price action, BTC price is showing some chances of an exit in a deep bearish trend. As suggested by the popular analyst, at present, Star Crypto has two options and unfortunately both are bearish.
The analyst says here that, the Bitcoin prices may rise high beyond $25000 and eventually drop hard to hit $23,500 or $22,500 too. In an extended case, the BTC price could continue to plunge hard and form new lows ahead.
Conversely, if the asset exceeds $26,000, BTC price could validate a bullish confirmation. However, the chances of such a breakout appear very slim, as as per the chart given by the analyst, there is no bullish momentum in the asset in the near future.
