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Wednesday

20 January 2021

Bitcoin to Hit $22,000 If This Bearish Reversal Theory Plays Out

Bitcoin to Hit $22,000 If This Bearish Reversal Theory Plays Out


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That said, the Bitcoin price could trade to as high as the said level, with a psychological inclination to test $22,000.

Technically, the breakout reversal after Bitcoin reaches the apex could lead its price lower by at least $3,300.

Meanwhile, if BTC/USD manages to break lower ahead of hitting the apex, it automatically shifts the Wedge target lower below $18,357.

For instance, the pair could close below the Wedge’s lower trendline today when trading at $19,142 and crash towards $15,842 ($19,142-$3,300).

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