Leading cryptocurrency Bitcoin (BTC), It was pulled up to $42,000 and fell 4% in 24 hours.
While this decrease in the price of Bitcoin causes the market to withdraw, it is wondered which direction BTC will prefer.
What Does the Famous Analyst Think?
BTC’s RSI has dropped below the 50 level again and the MACD is gaining strength in the bearish zone known as the bearish zone.
Famous crypto analyst Josh Rager also stated in his statement on the subject that the downtrend has not been finalized yet, but the decline remains strong.
The analyst underlined that for all this to be left behind, there must be a break above $ 45,000. At the moment, according to the famous analyst, the status of BTC is completely neutral.
The situation of BTC in recent weeks shows that the bear market is gaining strength.
It is known that the interest in the market has decreased, especially while it is seen that the fear and greed score is 25.
We will see if this will be the case this time in BTC, which had a serious rally a few months after China’s bans in the past.
However, as the analyst said, for now, $40,000 as support and $45,000 as resistance is vital for the direction to be clear.