Bitcoin continues to struggle to hold the $20,000 level even after a recovery coming out of the weekend. This decrease in price has pushed the market further into the bear market. It still trades at very critical levels which will determine the movement for the next couple of weeks. These two main points are the support that formed at $20,000 and the 200-week moving average.
Bitcoin Turning Bearish?
The price of bitcoin at the time of this writing is ranging towards $20,000 with drawdown. Being so dangerously close to this point is critical in the forecast for the price of bitcoin, and this is despite the fact that bulls have already formed support at $20,000.
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Another critical technical level is the 200-week moving average which the digital asset is currently trading below. Now, this is the first time in history that the price of BTC has ever fallen below the 200-day moving a ..
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