Bitcoin is braked on the pivot point at $ 8,900. If it does not exceed it, we will have more downward movements.

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Bitcoin has been completely braked on the pivot point and 38% fibonacci around $ 8,900. As we stated in the previous analysis, this is an area of ​​strong resistance where bears will fight to curb a possible bullish momentum. Now the main cryptocurrency in the market is in a difficult situation for the short term.

If we fail to exceed that $ 8,900, it is very likely that we will have more downward movements that bring the price to levels below $ 8,400. At the moment the next important support is in this area, but it is the 50% level where the signals for a rebound are not very clear. Hopefully the price does not fall to $ 8000 and can begin to consolidate above the aforementioned pivot.

The correction has become a bit long for Bitcoin, which after exceeding $ 10,400 has seen a price decrease of more than 19.86% since last February 13.

The Bitcoin entry is braked on the pivot point at $ 8,900. If it does not exceed it, we will have more downward movements. It was first published in Crypto Report.



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