Bitcoin Gets Rejected Again!!
Bitcoin price had the most bullish rally ever in its history by surging above $23K in just a matter of hours. The Bitcoin bulls outperformed the bears who were expected to hinder Bitcoin’s uptrend and turn it into a downturn.
As Coinpedia reported earlier that, Bitcoin has a history of getting rejected multiple times at every stage yet again it gets rejected at $23,000 not once but multiple times in the past 24 hours.
However, many still believe that Bitcoin rally is unstoppable until it reaches $100K as said by the CEO of Binance, Changpeng Zhao.
Moreover, CZ also said that It may plunge back to $85,000 after rallying to $100K.
Will Bitcoin Price Slide Down or Stand Strong?
The most dominant crypto, however, is manifesting a sense of stability in its growth by showcasing less voltality. Amid the positive market sentiments and the technical indicators, some still believe, Bitcoin may plunge back to $15,000 in 2021.
According to the chart posted by analysts on Trading View, he predicts the Bitcoin Price may slip down drastically close to $15,000 breaking all the support levels. However, he further shows the bitcoin rally to the current levels close to $24,000 in February 2021.
- The resistance levels are formed at the newly formed ATH at $23,789
- The support levels are formed initially at $22,400 if it breaks down more, levels around $20k may be imminent.
- The technical indicators suggest a strong buy