Chart of the day - BITCOIN (21.01.2021)

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

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