The situation has changed significantly on Tuesday as BTC/USD declined. The currency pair has lost more than six percent in the past 24 hours. Now buyers are trying to give support to Bitcoin, but bears are too strong and it is not easy to do it.
Bitcoin has broken through several support areas on Tuesday including $7,949, $7,734 and $7,565. BTC/USD fluctuates below $7,565 currently. The currency pair stays below $8,000 which is not good for buyers as they were unable to develop their success or to hold positions.
Anyway, I think that bears still have some power to push the currency pair lower. I believe Bitcoin will fall towards $7,341 before starting its correction towards my target. By the way, I have reestablished my target lower. Now it is at $7,734.
Check the full crypto analysis HERE>>>.
Bitcoin has broken through several support areas on Tuesday including $7,949, $7,734 and $7,565. BTC/USD fluctuates below $7,565 currently. The currency pair stays below $8,000 which is not good for buyers as they were unable to develop their success or to hold positions.
Anyway, I think that bears still have some power to push the currency pair lower. I believe Bitcoin will fall towards $7,341 before starting its correction towards my target. By the way, I have reestablished my target lower. Now it is at $7,734.
Check the full crypto analysis HERE>>>.
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