End Of The Road? Why A Bitcoin Price Surge to $28,500 Could Lead To A Crash
NewsBTC
18 Sep 2023 6:00 PM
The crypto market is finally seeing green during today’s session, with the Bitcoin price rising above $27,000....
- The Bitcoin price has risen above $27,000 for the first time since late August.
- A Bitcoin price fractal suggests a potential re-test below $20,000, indicating downside pressure.
- However, if the fractal is invalidated, there could be a relief rally with BTC reaching $28,500 to $29,000 levels.
- The current Bitcoin price rally may lose steam due to limited upside liquidity and significant liquidity pools on the downside.
The sentiment in the article is mixed. While there is optimism about the Bitcoin price rising above $27,000, there is also caution about a potential re-test below $20,000 and limited upside liquidity.
You May Ask
What is the current price of Bitcoin?What does the Bitcoin price fractal suggest?What are the potential levels for a relief rally in the Bitcoin price?Why might the current Bitcoin price rally lose steam?What are the support levels to watch for in case of further downside?Answers:The current price of Bitcoin is $27,200.The Bitcoin price fractal suggests a potential re-test below $20,000, indicating downside pressure.If the fractal is invalidated, the Bitcoin price could have a relief rally and reach levels of $28,500 to $29,000.The current Bitcoin price rally may lose steam due to limited upside liquidity and significant liquidity pools on the downside.The potential critical support level to watch for in case of further downside is $26,700.