Bearish Bitcoin (BTC) Outlook after Latest Consolidation

[Goodcat49]

Even though last week began with the Bitcoin price consolidating, the utmost result was price action hitting a drastic week. The price made a high of almost $4,112 on January 8, 2018, before collapsing more than 10 percent for the week, according to data from Tradingview.com.

he price trend began this week with an increase from the low hit last week close to $3,470 on January 10, as Coinidol reported.   

$3476 seems to be a critical level to observe, and if the BTC price falls under this point, then there is no distinct support until the low of last year of around $3122.   

BTC’s performance last week forced several analysts to forecast bearish prospects for digital currencies.   

When last week was beginning, there was a fairish chance that price could exceed $4,240 and make a lofty high.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/bearish-bitcoin-btc-outlook-after-latest-consolidation/