Bitcoin Plunge Ahead: Expect BTC Price to Drop in 30 Days!

Summary

• The Bitcoin price has dropped slightly and new banks joining the SVB collapse have shaken up the traditional markets.
• Technical analysis suggests that a significant correction of BTC is imminent, with the current range being between $24,000 to $19,000.
• The price may be rejected from the resistance levels and reach below $19,000 or it could rebound from around $18,697.08 to regain lost levels above $25,000.

Overview

After Bitcoin’s rally during the previous weekend, its price appears to have weakened as it has started a notable descending trend. Technicals have flashed bearish signals indicating a major correction for BTC in the coming days. It currently is stuck in a range between $24,000 to $19,000; only when breached beyond either of these levels will either trend be triggered.

Short-Term Price Movement

In the short term, analysts expect there to be a rejection from current resistance levels that will take BTC’s price lower than $19,000. But if it rebounds from around $18,697.08 it could regain its value above $25k again and potentially even rise further beyond $26k. The market is expected to remain highly volatile in the next few months as prices can still surprise us on either side of the spectrum despite this nascent bearish sentiment. A breakout would take prices between 25500-28k while an extended bearish trend could bring prices down to 17500-16k region too.

Fresh Bearish Signals

Fresh bearish signals suggest that BTC might lose most of its gains and slide down significantly over the next 30 days. With new banks joining SVB’s collapse and shaking up traditional markets once again investors should exercise caution and not go long at this juncture as doing so might just lead them into losses instead of profits .

Long Term Expectations

Although predicting future market movements is difficult due to inherent volatility , we can predict that if bulls take charge they will likely push past 26K too before this wave ends . But any sort of heavy losses combined with selling pressure could result in prolonged consolidation period which might last well into late spring/early summer .

< h2 >Conclusion In conclusion , we can assume that Bitcoin’s current rally was caused by an influx of institutional investors but now with fresh bearish signals popping up , those who are thinking about entering this bull run should first understand all nuances associated with investing in cryptocurrencies before taking any action . This way one can make sure their investments are safe and secure even during uncertain times like these .