Where is Bitcoin going today after falling below $ 40,000?

The price of Bitcoin had an interesting day today, reaching its lowest level in more than three months and then coming back.

Based on the data Coindesk , the world’s largest digital currency in terms of the market value of the dollar fell this morning to 39,677.65.

Additional CoinDesk figures show that at this point, it was trading at its lowest value since late September.

according to “Mihanblockchain” Persian trustable cryptocurrency source, The digital currency then improved somewhat, reaching over $ 42,000 in the afternoon, trading at around $ 41,800 at the time of writing.

[Note: Investing in cryptocurrencies or tokens is very lucrative and the market is largely unregulated. Everyone who thinks about it must be prepared to lose all their capital.]

Where is Bitcoin likely to go following these latest price fluctuations? Numerous analysts have commented on this.

Julius de Kempenaer, chief technical analyst at StockCharts.com , claimed that the recent cuts further confirm the downward trend in bitcoin.

“The drop in support below 45,500 confirmed the downward trend in bitcoin, which is underway after completing the doubling of the failure rate to below 60,000,” he said.

Breaking below 45.5k caused lower acceleration and tested the next support level at around 40k.

“Support at around 40k is now in place, while the old support level at 45.5k can now act as resistance.”

“As long as a set of low and low altitudes remains intact, it is easy to move down,” de Campnier stressed.

He added: “In another failure less than 40k, there is some support around 37k, but the main level for watching is around 30k (29.5–32.0k). “This is where the major support is clustered.”

https://medium.com/@BenAnthony1/where-is-bitcoin-going-today-after-falling-below-40-000-978302f63d4c