The weekends appear to be completely bearish for the crypto space nowadays. The asset tend to shed huge gains during these times. Currently, the space witnessed yet another March 2020 or May 2021-type crash. Bitcoin price for the first time in the past couple of months slashed below $50K and currently hovering in the same region. Despite huge bearish sentiments, yet BTC price may rebound to smash local high soon.
The crash arrived all of sudden while many expected a healthy weakend ahead. But still, most of them believe that the current dip may not be the end of bull market. Bitcoin is still testing one of the crucial areas and a notable boost may reinstall the bull rally yet again. And hence the market might have had it’s reset and currently it’s the time to push back. However, the key levels to hold is around $40K to keep bullish trend intact as per a popular analyst.
The analyst, il Capo Of NOIA, says the $40K levels are pretty crucial to maintain with a notable uptrend. The asset is expected to rebound before visiting these levels and undergo a decent uptrend towards the target set at $100K. However, on the contrary, the uptrend may be invalidated if the price slides below $40K and if it further plunges below $30K, the bull market may be over.
Collectively, the current crash no doubt may have squeezed a lot of gains yet the possibilities of a substantial uptrend are still alive. The BTC price has marked 2 highs and 2 lows in the same year manifesting its strength during diverse market sentiments. And therefore, the loss from the current sell-off’s may also be recovered within few days.
Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
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