Back to Sink, Bitcoin Shows Pandelela Plunge! - Kakiforex.com - Financial Market Media No. 1 in the World Back to Sink, Bitcoin Shows Pandelela Plunge! Back to Sink, Bitcoin Shows Pandelela Plunge!
InstaForex

September 8, 2021

Back to Sink, Bitcoin Shows Pandelela Plunge!

 Surprisingly, Bitcoin’s sudden plummeting slump in yesterday’s trading session gave a bit of annoyance to crypto investors who expected the crypto king to continue the surge.


It seems that the expectations of bloomberg strategist ‘Mike McGlone’ who is forecast to reach $ 100,000 by the end of this year have been cut short by the development of this news!


From a perspective, Bitcoin slumped almost 20% plunging to a price level of around $ 43,000, but the price value moved back to the $ 47,000 level on Tuesday morning.


Next, examine the current movement chart of the BTC/USDT price.


In today's trading session, it seems that BTC is back showing positive movement and is testing the SBR (support become resistance) zone around $ 47,000.



For the next expectation, if the BTC remains positive price movement, the SBR zone around $ 47,000 will be broken and headed to the next SBR zone.


However, if BTC returns with a bearish pattern, BTC will test the RBS zone (resistance become support) around $ 45,000 before making a decline to a lower level.


At the time of writing, BTC/USDT is trading at a price of around $ 47,000 down over 10% in the last 24 hours.