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    Bitcoin Breaks $20K Support, This Could Be Next Support Price


    After hovering around the $20,000 to $21,000 mark, Bitcoin is finally moving in the anticipated direction. As of writing, Bitcoin price is $19,554, down 6.50% in the last 24 hours, according to CoinMarketCap.

    Analysts predict Bitcoin to reach the $18000 level to find the next significant support level. “Below the $20,000 mark, the nearest significant support level is 10% lower at $18000 level.

    In a rare development, BTC could make history this week by closing below the 200-week moving average. This behavior was previously observed only five times in the past. Based on recent calculations, Bitcoin’s 200-week moving average stands at around $21,700. The current price is way below this important indicator. The last time Bitcoin intercepted the 200-weekly average last was at around $5,450 in 2020.

    Anvesh reports major announcements around crypto adoption by institutions and popular personalities. Having been associated with the cryptocurrency industry since 2016, Anvesh is a strong advocate of decentralized technologies. Follow Anvesh on Twitter at @AnveshReddyBTC and reach out at anvesh (at) coingape.com

    The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.



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