Skip to main content

BTC at risk of a deeper fall below 64k now?

The noted drop back below 65k again yesterday in Bitcoin has seen the lead cryptocurrency fall back a little further earlier today. The rejection of a sustained move above both its 50 and 100 day moving averages yesterday has not helped the price action. The risk of a deeper fall might be more elevated for that reason, unless the lead coin can recover those levels again. Therefore the risk of a deeper fall below 64k would seem to be somewhat elevated now. There is a support level just ahead of that which was breached a few days ago, at 64,225, but it has held so far today (64,309 the low so far). However, if that is taken out and a fall to below 64,040 does unfold from here, then it could deliver a move towards 62,408 (61.8% of 56,527-71,924). Right now BTC needs to get back above 66,500 in order to negate that risk. It is currently trading at 64,550

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!