Bitcoin slips below $40,000 for the first time since early February

Bitcoin slips below $40,000 for the first time since early February

Bitcoin drops over 8% to sit just under $40,000

Bitcoin D1 19-05
Invest in yourself. See our forex education hub.

It has been a wipeout for cryptocurrencies in the past week and Bitcoin is now being flushed back under $40,000 in another 8% drop so far today.

Ethereum is also being dragged back under $3,000 as the rout extends.

Going back to Bitcoin, it is one of the most technical adhesive plays – also psychological – out there and the drop below the late February lows near $44,000 has opened up the way towards $40,000 now where a test of its 200-day moving average (blue line) also looms.

Break below those two levels and this could get even uglier, even quicker with sellers potentially setting sights towards $30,000 next.

About Author

Related posts

Bitcoin trades closer to day’s low

Sellers remain in control Theprice of bitcoin moved lower after Chinacontinues to put the pressure on crypto mining. Thelow reach $31,700. Looking at the hourly chart, the lows did dipped below alower channel trend line (currently at $32,080), butwas not able to extend toward the earlier June low price...

Read More