Bitcoin is continuing a pullback with a strong downward move today. The most famous cryptocurrency has dropped over $1,000 this morning and is making a bearish break below the lower limit of the wedge pattern. The coin trades near a local low from January 13 at around $33,500. Should the ongoing downward move and high volatility continue, Bitcoin could look for a test of the support zone ranging above $30,000 handle. Investors question themselves whether reaching a fresh all-time high recently will be followed by a similar meltdown as it was the case back in the early-2018.
Bitcoin dives and makes a break below the lower limit of wedge pattern. Source: xStation5
This content has been created by X-Trade Brokers Dom Maklerski S.A. This service is provided by X-Trade Brokers Dom Maklerski S.A. (X-Trade Brokers Brokerage House joint-stock company), with its registered office in Warsaw, at Ogrodowa 58, 00-876 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. X-Trade Brokers Dom Maklerski S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.