Cryptocurrency analyst Josh Olszewicz said that if the market declines, the Bitcoin price may retreat to the $ 36,000 level.
Olszewicz says Bitcoin price will drop if bears gain strength at $35,700 He said it could fall back to the daily Kijun line.
Kijun-Sen is one of the most important indicators of Ichimoku analysis. Kijun-Sen, determined based on the last 26 periods in price, reflects short-medium term momentum. If the price falls below this line, the momentum downward It is interpreted as .
Bitcoin, which started this month fast and rose to $ 44,000, lost some of its gains by falling more than 4% on a daily basis, according to CoinGecko data.
In his post on his social media account, Olszewicz made a precautionary statement for long positions. to $42,800 He said a stop-loss could be placed.