Crypto Market Update By Crypto_with_Faizan
Pakistan Time: 06:30 PM
1: Bitcoin support levels - $52,000 and $49,000 strong support (this means buyers here).
2: Bitcoin resistance - $55,600 and $58,500 strong resistance (this means if you want to sell here you will sell bitcoin).
The market depends on Bitcoin, I have updated you - accordingly, you have to plan yourself and do it with your own funds.
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Analysis -
BTC supports at $52,000 and $49,000. Resistance is at $55,600 and $58,500. Be careful while trading and manage your risk according to the mentioned support and resistance levels.
The Bitcoin market is very volatile at the moment. Bitcoin fell 19 percent over the weekend due to a selloff in global financial markets, but was down 7 percent after a modest recovery on Monday. The downturn in the global market is due to the state of the US economy. . A weak jobs report and weak manufacturing data have delayed a rate cut by the Federal Reserve, sending panic into markets.
It's a tough time for Bitcoin holders, but some experts are optimistic that the selloff is a stopover before future gains. Historical trends also suggest that the market may go into a bullish trend after a sharp decline.
