Technically, since November 19, the price has been in an up and down trading range between $90,747 and $109,356. That range was broken yesterday. The momentum took the price down to near the 38.2% retracement of the move up from the August 5 low. That level came in at $86,520, but bounced and closed at $88,567.
The 38.2% retracement level is now a close risk level for sellers looking for more downside. It also represents a potential buying point if broken on the upside for buyers. It represents a key barometer for both buyers and sellers today and going forward.
Contributing to the declines include:
The hack and heist of $1.5T from Bybyte (Ethereum tokens). North Korea is being blamed for the heist. The ubiquitous risk-off fears is also be blamed for the sharp sell off. This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about bitcoin trades to the lowest level since november 11 was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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