The price of bitcoin is trading down -$3890 or -4.39% at $84650. The low reached $83,365 which was the lowest level since November 11, shortly after the election of pro-bitcoin Pres. Trump. The day after the election in November, the low was at $67445. The price high from January reached $109,356 (up 61%).. From the high, the price is down -22.65%.
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.
Today, after skimming along highs near 89,000 in the Asian session, buyers turned back to sellers pushing the price below the 38.2% retracement at $86,520.
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.
On the downside, the 50% of the same move higher comes in at $79,467 which is just below the natural support and $80,000. Move below that level and things could get even more ugly from a technical perspective.
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.
Read More Details
Finally We wish PressBee provided you with enough information of ( Bitcoin trades to the lowest level since November 11 )
Also on site :
- I went to Cambridge from state school and was patronised and laughed at
- Pricer launches commercially ready Pricer Avenue™ at NRF, redefining the shelf edge for high-value retail zones
- High Wind Warning issued January 11 at 12:39AM PST until January 11 at 1:00PM PST by NWS Los Angeles/Oxnard CA