Today, Bitcoin which has been swinging wildly over last couple of days, has dropped to as low as to $10,040 losing almost $2,000 per bitcoin in the last 24 Hours.
The market is still very volatile, following a correction from the new 2019 high marginally below $14,000. Some analysts predict further downside correction to around $8,500.
Assuming the price action continues to follow in its previous footsteps, we could expect to see Bitcoin continue to print lower highs until it reaches maximum consolidation inside another descending triangle pattern.
This price drop had an impact on ETH price which went down to as low as $280 and on LTC as well. Yet LTC is recovering.
For now, we will need to wait and see where the daily close finishes to see if BTC bulls still have enough fight in them to push back against the mounting selling pressure.
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