BTCUSD – Bitcoin prices under strong bearish pressure

BTCUSD Bitcoin cryptocurrency continues to immerse under strong bearish pressures after BTCUSD prices broke the combined support area located between the key support level 39400.00 (which has been reversing the price from the middle of April) and the 61.8% Fibonacci correction of the upward impulse wave (i) from February. The breaking of this support area forms the continuance of the active minor corrective wave (ii).

 

Given the widespread deterioration of the risk sentiment that can be seen across the cryptocurrency market today – Bitcoin prices can be expected to fall further toward the next support level 37086.00 (monthly low from March and the target for the completion of active wave (ii)).

BTCUSD - Primary Analysis - Apr-18 1313 PM (1 day)

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