Given the strength of the resistance level 95000.00 and the bearish sentiment seen across the crypto markets today, Bitcoin cryptocurrency can be expected to fall further to the next round support level 90000.00.

 

  • Bitcoin reversed from resistance zone
  • Likely to fall to support level 90000.00

Bitcoin cryptocurrency recently reversed from the resistance zone between the resistance level 95000.00 (former monthly high from December, as can be seen from the daily Bitcoin chart below), upper daily Bollinger Band and the 50% Fibonacci correction of the previous downward impulse from the start of November. The downward reversal from this resistance zone stopped the earlier short-term impulse wave 3, which belongs to the intermediate impulse wave (5) from the end of November.

Given the strength of the resistance level 95000.00 and the bearish sentiment seen across the crypto markets today, Bitcoin cryptocurrency can be expected to fall further to the next round support level 90000.00.

The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.

The information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.