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We’re looking at $14,000 for Bitcoin’s next critical support

By CryptoVista Staff
June 30, 2022 0

The current volatility in the crypto market continues to shake confidence and promote key currencies busting through critical support values. Currently, Bitcoin is hovering dangerously close to a US$20,000 support level. If it breaks through that, we could see it drop to the next support level of $14,000 quickly.

“Risk remains elevated given the recency of the major breakdown below $27.2K, with intermediate- and long-term momentum still strongly negative.” Fairlead Strategies founder and managing partner Katie Stockton, said in an article on Kitco.

The next number that Stockton and other are watching is between $18,300 and $19,500. If Bitcoin should fall beyond those, it will most likely move down further, to $14,000.

In addition to the price supports, Stockton told people they should strap in for the volatility to persist for some time to come. “Bitcoin is newly long-term oversold per the monthly stochastics, but it will likely take several months for a long-term oversold ‘buy’ signal to register,” Stockton said.

“… Like bitcoin, Ether is newly oversold from a long-term perspective, but a fairly recent bearish shift in long-term momentum supports an extended downtrend.”


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