Check out today's BTCUSD Forecast:
sits right around the $19,265 level and is dropping. Ultimately, I think this is a market that sooner or later will see a resistance based upon technical analysis and a simple lack of momentum.appetite has been destroyed.
If risk appetite is very weak, it’s difficult to imagine a scenario where a lot of institutional money is going to go flowing in the cryptocurrency. Furthermore, we are during a “crypto winter”, and in other words very few people are paying close attention.If we were to break down below the $18,000 level, I could open a move lower, but right now I think we are more likely than not going to continue to see that offer a short-term floor.
They do not look very likely to do that anytime soon, so with that, I believe you got a situation where it’s a bit of a one-way trade. I believe that all crypto right now is a bit toxic, as we are during the “everything bubble” being popped across the world.
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