What Happens If Bitcoin (BTC) Loses 63.000 Support?


We are used to the fact that the price is constantly going up with short-term corrections. A relaxation of as much as $65,000 was also expected with the last 69,000 tests. But it was more than that, Evergrande his bankruptcy came just on the day, pulling the price up to the region of 62,000. So what will happen if the current $ 63,000 support is lost?

Bitcoin (BTC)

Bitcoin has formed a bearish trend on its daily chart, which indicates a pause in the uptrend at the end of September. In the short and medium term BTC, the importance of $ 63,000 is increasing when organizing the next cycle. MACDsupporting the bearish trend of the RSI, Bitcoinit brings to mind the possibility of starting a new week with a fall.

Bitcoin if $63,000 loses its support, we could have a 9% pullback again. Previous The BTC uptrend during it, the 50-SMA (yellow), which usually serves as a support, will be activated. The medium-term moving average also clashed dec a strong defense between $ 57,000 and $ 58,600. When a bullish recovery occurs, Bitcoin will want to continue its bull run that started at the end of July and achieve its year-end goals.

What Awaits Crypto Investors?

Although the correction stages scare investors, it does not seem to be a problem in the long run. For example Bitcoin October September, after its rally at the end of July, it lost about 20% of its value and entered a new bullish cycle in October-November.

BTC if it clears the way for another withdrawal, December could be a full-blown one. The reasons for the expected decline, RSI it was caused by a downward trend throughout and a downward trend in the MACD. On the other hand, bulls will need to be wary of a close below the POC of the 50-SMA and Visible Range, which is the point at which the maximum BTC transactions are made within a certain time frame. In such a case,, SuperTrend Its indicator will switch to a sell signal and expose BTC to short sale.

As a result, Bitcoin 63.000 could decelerate to a region between 57.000 and 58.600 if the dollar loses its support. Here the bulls need to put up a strong defense and prevent the price from experiencing more serious losses. Most likely, this territory will be strongly defended.

But the main problem is in this scenario altcoin what will their investors do? If they are not addicted to risk gambling, they will stick to the current stop zones. Because BTC a loss of 9% for many altcoins can be reflected above 20%. Even the most recent investors have experienced this many times.

Disclaimer Of Liability: The information contained in this article absolutely does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and they should conduct their transactions in accordance with their own research.
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