Bitcoin price continues to decline, despite positive news on the market – Nasdaq and VanEck intend to launch crypto 2.0, a future cryptocurrency development plan was also announced, but Bitcoin could not exit the bearish channel with $ 4,500 resistance and support at 3 500 US dollars.
After reducing to a minimum of $ 3,500, a pair of BTC / USD began to recover, while the price rose more than 4,000 dollars. However, the growth correction remained limited below $ 4,500. Also, the profit was limited by the resistance of the trend line at USD 4,250.
Currently, the price of 4,000 US dollars is a technical and psychological level, which prevents buyers from pushing the price up to 4,500 US dollars.
A well-known cryptocurrency trader and analyst with an extraordinary nickname, Crypto Dog told his Twitter followers that the bearish trend will continue.
He believes that Bitcoin is likely to continue its downward trend, contrary to the expectations of many investors and experts. Also, Crypto Dog notes that the price of Bitcoin is currently not able to break through the ascending short-term contract triangle.
What do you think about this situation with Bitcoin?
