According to Blockware analyst Will Clemente, the market’s largest cryptocurrency is in critical condition and we will most likely see Bitcoin at $19,000.
If the bulls fail to hold Bitcoin above $22,000, the price of the market’s largest cryptocurrency will fall below $20,000. Looking at Will Clemente’s analytical chart, we conclude that Bitcoin is currently under the support of the 200 Weighted Average (WMA) and also around the important psychological zone of $20,000. The two mentioned are the only factors that may prevent the price of BTC from reaching the level of $19,000.
Read more: The future and prediction of Bitcoin price in 2022
19 thousand dollar bitcoin
A break below the $22,000 level could return digital gold to price levels not seen in the past two weeks. The main problem with Bitcoin’s current situation is the lack of short-term support zones. There is currently no support that can prevent BTC from falling further.
Technical analysis is the only tool that can predict the fall of BTC and the possibility of Bitcoin $19,000. Incoming data as well as transaction volumes are increasing. This data shows the whales trying to hold the current price of Bitcoin.
The sale of 75% of Tesla’s Bitcoin holdings and the sharp increase in interest rates by the European Central Bank have not caused any abnormal volatility in the market. This news is very favorable for the state of Bitcoin.
As analysts predict, Bitcoin needs to start a strong uptrend to stabilize at its local support levels. Retail investors and larger institutions are still not ready to inject significant capital into the digital currency market. At the time of writing, Bitcoin is trading at $22,722. The largest cryptocurrency in the market saw a 1% growth in the last 24 hours.
What do you think about the possibility of Bitcoin falling? Will we continue to see Bitcoin at $19,000? Please leave your comments in the comments section duplicate share it.