Bitcoin Today: the fall is short-term?

Price
One more dive renewed lowest point to the 4000 level. The zone below 4300 (78,6% Fibo) level played as a support and pushed the price above. At the moment the price reached above 4500. Nonetheless, to consider any reversal patterns we need to see the price above the closest Bearish Trend Line until then the pattern stays bearish. The main supportive level, for now, is 4000, breakthrough below this level will open the way to the next psychological level 3000.

Today forecast
Trading Bounds: 4000 – 5000. Breakthrough below 4000 will lead the price to the 3000 support.

Opinions

• Tom Lee: the fall is short-term
  Tom Lee, analyst, and co-founder of Fundstrat Global Advisors, in a regular conversation with CNBC, expressed the view that the collapse of markets is happening in the context of the global trend, and the continuing rapid fall of Bitcoin prices is only of short-term nature.
  “Markets around the world are fragile, and panic and sentiment are playing a disproportionate role right now... Does this mean bitcoin is broken? No. The use case is still there, but in the short term, panics are panics,”
  Also during the conversation, the analyst mentioned the US Securities and Exchange Commission (SEC), which studies the activities of many projects related to digital tokens. This, he said, also puts significant pressure on the market, creating the negative sentiment.
  Also, many experts are convinced that in addition to legal uncertainty and stricter regulation, the recent hardfork of Bitcoin Cash which caused the emergence of two competing chains, had a negative impact on the market.
  “The 'Hash War' between Bitcoin Cash ABC SV continues to impact the market," said Brian Kelly, CEO of the founder of BKCM. "Both sides appear to be selling bitcoin to fund mining operations to win the battle.”