Bitcoin’s price has dropped 3.55% in the last day, trading at about $79,880. A crucial support level at $80,190 is being tested, with possible declines to $78,000 and $75,000. Traders have yet to see reversal signals, so caution is advised.

The beginning of the week has witnessed a continued decline in the cryptocurrency market, as reported by CoinMarketCap. At this time, Bitcoin (BTC) has experienced a decrease of 3.55% within the last 24 hours. Currently, the price is nearing a critical local support level of $80,190, and if it closes below this mark, further corrections towards the $78,000 range may be expected.

In examining the broader timeframe, traders should monitor the interim level of $78,197 closely. A breakout from this level could set the stage for a potential decline towards $75,000 by the month’s end. Furthermore, no reversal signals currently indicate a shift in this trend; if buyers do not take action to push prices up soon and if BTC remains below $80,000, a downtrend towards the $70,000 threshold could ensue.

As of the latest update, Bitcoin is trading at approximately $79,880.

In summary, Bitcoin is currently facing significant downward pressure, trending at approximately $79,880 with a notable drop of 3.55% over the past day. Critical support levels are being tested, and the potential for further declines into the $78,000 and $75,000 ranges arises if current trends continue. Hence, traders should remain vigilant and conduct thorough research before making any financial decisions.

Original Source: u.today

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