Bitcoin: the impending breakout of the annual low

The price of Bitcoin is holding up, but the decline is still preferable

The price of Bitcoin is still in a range, more and more limited and observes some resistance compared to traditional assets. Indeed, financial markets remain under tension, and Jerome Powell’s latest intervention, during the monetary policy press conference on Wednesday, only highlights downside risks.

Despite this, Bitcoin is staying above the $20,000 threshold and is even trying to bounce back towards $21,000. This configuration is nevertheless negative on the primary cryptocurrency and a bearish acceleration should take place very soon.

So, while Bitcoin could try to break above $21,000 again, especially over the weekend when the traditional markets are closed, our outlook remains for a strong comeback down and a breakout of the annual low towards the next support zone.

Bitcoin Price Daily Chart – Key Levels


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