Bitcoin crashes and begins to recover easily

In the past 3-4 sessions, the price for Bitcoin is fell significantly from well above USD 8,000 to well below USD 5,000. BTC / USD lost more than 50% and even tested the USD 4,000 range. The price is currently recovering (09:00 UTC) above USD 5,000, but there are many resistors waiting on the top.

Most major altcoins also fell between 30% and 50%, including Ethereum, XRP, Litecoin, Bitcoin Cash, BNB, EOS, TRX, ADA, and XLM. ETH / USD broke the USD 165, 150 and 120 support levels. In addition, the XRP / USD fell well below the support levels of $ 0.180 and $ 0.150 before the bulls appeared near $ 0.120.

 

Bitcoin price

After a daily close below $ 7,800, the Bitcoin price began to decline sharply. BTC / USD fell more than $ 4,000 and tested the $ 4,000 and $ 3,950 levels. He is currently making up over $ 4,500 and $ 5,000 in losses. Initial resistance is near the $ 5,500 mark above which the price could potentially test the $ 6,200 resistance.If the price does not correct above $ 5,500 or $ 6,200, it will likely resume its decline. Initial support is close to the $ 4,800 level, followed by the $ 4,400 level.