Bitcoin Fell Below $37K
It seems that Bitcoin can not overcome the downtrend in any way. After spending just a few hours above $38K, digital gold fell to $36,800, according to TradingView.
Crypto trader alias “HornHairs” posted a chart showing a sustained support level around $37,400.
After finding support at that level, he said, “It’s only a matter of time before we get back to $38,000. For now, the bears are just testing to see if the bulls can bring back $38,700. But if the price of Bitcoin falls below $36,781, the bulls will not be in trouble.
“A drop below $36,700 and a move to the low of the range seems likely given that we broke the high of the range yesterday,” the analyst added.