Bitcoin as well as other Alt currencies crashed fiercely for the Past couple of weeks with a liquidation across the crypto space of upwards of 500 billion USD .
This Fantastic crash in bitcoin came unexpectedly to some Traders who had hoped that a break of 120kUSD would have seen the stellar crpto currency heading Towards the 150K Mark. However, this was not the case as Bitcoin price action reversed Sharply at the 125kusd handle leaving Many traders stunned and most Liquidated.
The drop persisted and the pair is currently finding support at the 80kusd Support. Having broken Trendline on the weekly timeframe.
Should this support continue to hold and the current upward momentum sustained, we could
see a retest of weekly fair value gap formed between the 96k to 98k level which also coincides with the retest of the broken trendline and 38.2% fibonacci level of the move from 125500k to 80,800 handle. This could be a very good opportunity to go long and join the Upward Long term trend with prospects of very Decent profit on the Buy side.
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