Investors Grow Weary as the Battle to Hold at $3,421 Continues — Can the Bulls Prevent Fresh 2019 BTC Price Lows?


  • Support for BTC moving forward: $3,421, $3,400, $3,350, $3,331, $3,284, $3,228, $3,000.
  • Resistance for BTC moving forward: $3,467, $3,508, $3,569, $3,664, $3,800, $3,851, $4,001.

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Bitcoin has faced another turbulent couple of days as prices tumble back towards the $3,421 handle once again. The market is now positioned to create the longest consecutive bearish month in the cryptocurrency’s history if price action finishes the 7th consecutive month in bearish territory.

The past day has seen Bitcoin’s market cap tumble below $60 billion mark once again as investors continue to fear that Bitcoin may continue to make fresh troughs beneath the 2018 price low at around $3,228.

Source: Coinmarketcap

 

Many prominent analysts believe that the bearish nature of the market will continue over the next few months as institutional investors continue to remain on the sidelines before investing.

However, they are equally confident that the institutions will enter the…



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