Bitcoin (BTC) - Failed To Hold $38K Zone
The weekly chart for Bitcoin shows that the price has failed to hold above the resistance zone and the $38K level, closing below both and indicating potential bearish momentum. A new week has begun with a move down from $37,500, suggesting that the bulls are losing their grip.
The $29,850 level is a significant point of interest; a fall to this support could signify a deeper correction. However, the $24,260 level stands out as a critical area to watch for a potential bounce or further breakdown. If the downtrend continues, the next target could be as low as $16,095, a crucial historical support zone.
The $29,850 level is a significant point of interest; a fall to this support could signify a deeper correction. However, the $24,260 level stands out as a critical area to watch for a potential bounce or further breakdown. If the downtrend continues, the next target could be as low as $16,095, a crucial historical support zone.
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BTC is still showing some weakness (on the daily timeframe as well) Seeing how price is rejecting that $38K zone multiple times shos us the sirge in downward movement here on coin!