The cryptocurrency markets record another decline for another consecutive day on Wednesday, as just five of the 100 largest coins and tokens managed to post an advance profit against the dollar. The Bitcoin price, meanwhile, recovered past $10,000 after yesterday’s report that US regulators had subpoenaed Bitfinex and Tether briefly caused it to dip into four-figure territory.And also the bitcoin price recover after the postive news about bitcoin from South Korea, after that South Korea Finance Minister Kim Dong-yeon has reaffirmed that the government will not ban or otherwise “suppress” cryptocurrency in the country, according to a statement reported by Reuters today, Jan. 31.
The bitcoin price remain bearish, and maybe the correction will continue, until some postive new come into the crypto world, if bitcoin break the support line of 9500, the next strong support lines are 9000 USD and 8500 USD, if bitcoin break resistance level of 11000 USD, the next target is 12000 USD, but i am bullish for BTC in the long term .
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I agree with you that it looks like the sell off will continue. Looks like 10 000$ is strong psychological level. I Thing the there are a lot of stops at 10 000$ and that is why ones it touches that level it triggers people's stops and that is why the price drops to 9 500$.
yes , this are juste some bad days for the crypto world
Agree
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