After its recent crazy highs, where is Bitcoin headed next?
Al Jazeera
Investors can get some clues here on where Bitcoin, which has been stuck between $30,000-$40,000 for weeks, is headed.
Bitcoin has had a rough time in the past couple of months after hitting a record high, that much is well-known. The largest cryptocurrency has been stuck in a range between about $30,000 and $40,000 for weeks after reaching its all-time high near $65,000, which means chart watchers are scanning the data for signs as to where it could head next. Second-biggest crypto Ether, which topped out near $4,400 in mid-May, has been trading in the $2,100 area. Bitcoin’s price action reveals “a menacing chart full of sound and fury, backed by nothing,” said Rich Ross, technical strategist at Evercore ISI, in a recent note. He sees first resistance at $36,000 with support at $33,000 and $30,000 — and downside to $22,000 or below.
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