Bitcoin's price fell by almost 8% in 24 hours to $26,362 during Asian business hours on Friday, breaking out of its range channel between $29,000 and $30,000 and testing levels slightly above $25,000. This decline could validate a double-top pattern and lead to losses below $20,000 before a rebound.
Indicators suggest a continued slump in prices, with BTC likely to drop to or below $20,000. The negative sentiment in Bitcoin markets is likely to extend losses below $25,000 during the weekend, with traders more interested in shorting BTC than betting on an immediate recovery.
All Comments