Bitcoin has experienced a significant decline, revisiting the same low that was previously tested during the SEC lawsuit concerns on platforms like Binance and Coinbase. The recent formation of a low on the hourly timeframe suggests the presence of an important support level. This support has previously resulted in a strong buyback, indicating the potential for another short-term rebound. It is crucial to closely monitor the price action and market developments to assess the strength and sustainability of any potential buyback.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.