To what levels can the decline in Bitcoin continue? Analyst Announces Critical Levels: “Investors Should Follow Closely!”

Bitcoin has exhibited very volatile movements in recent days, and although it dropped below $ 61,000 in the morning hours, it recovered somewhat.

At this point, analysts say that Bitcoin price movement indicates that the asset is in a downward trend and warn investors to be careful about high volatility.

Speaking to Coindesk Alex Kuptsikevich, senior market analyst at FxPro He stated that Bitcoin is in a downward trend and shared the levels to watch.

At this point the analyst $60,300, $56,000 and $51,500 in Bitcoin He said that there are critical levels to watch in the coming days:

“Bitcoin remains in a downtrend with a series of lows and lower highs.

We will pay attention to the dynamics of Bitcoin and the following support levels: $60,300 (correction to 61.8% of the recent rally), $56,000 area (50-day average) and $51,500 (consolidation area from February).

Cryptocurrency investors should now closely follow the risk appetite in financial markets. “Bitcoin and cryptocurrency markets will be greatly impacted today by the FOMC and other major central bank meetings later in the week.”

*This is not investment advice.