‘Foolish’ to deny Bitcoin price can go under $10K — Analysis

Bitcoin (BTC) is still looking forward to another $ 20,000 deposit and another 20% discount on June 23rd.

BTC / USD 1-hour Bitstamp. Source: TradingView

Bitcoin under $ 10,000 is not possible.

Data from Cointelegraph Markets Pro and TradingView shows that BTC / USD is over $ 20,000 in 24 hours from the time of writing.

As usual, the feature shows activity in the flat US stock markets.

Federal Reserve Chairman Jerome Paul gave only a brief twist. The Cointelegraph testified that Paul Congress did not provide any new information on macro policy.

Likewise, crypto analysts are sticking to previous assumptions – the outlook is uncertain, but a new downside could be a trip up to $ 16,000.

“By merging $ BTC with a wider range and then moving upwards. MDD (maximum output) is not that big -20%,” said Ki Young Joo, chain analyst platform CryptoQuant. He wrote Part of a Twitter post.

Ki reiterated its analysis of the popular Crypto of Il capo analysis, BTC has been taking a discount for a long time.

In a separate post, K. He claimed. “Most Bitcoin cyclic indicators are below,” he added, and shortening the BTC to its current level was not a good idea.

“I’m not sure how long it will take to merge in this region. It is not a good idea to open a large space here unless you think $ BTC is going to zero,” he wrote.

Indicators for monitoring inputs, however, were reason to avoid further risk.

“At this stage, no one can say for sure whether BTC holds this territory or if it reaches a price level of less than $ 10,000, but it would be foolish to have no plans for that.” He argued.

“Never” does not fit well in crypto. Plan accordingly. “

The Fed did not plan to “pull out of the coffers”.

In the new macro news, the pressure on the euro zone is on the rise in the supply of natural gas.

Related: Bitcoin holder data gives BTC price hint ‘really close down’ – analysts

In the United States, meanwhile, Paul has made new comments on federal monetary policy.

The central bank said in a statement that its balance had been reduced. Reported At the time of writing, according to media reports, it now plans to spend up to $ 3 trillion on real estate.

As of February 2020, the federation’s balance sheet is $ 4.8 trillion, which means it will be higher than it was before the epidemic.

Federal Reserve Balance Schedule (Screenshot). Source: Federal Reserve

The European Central Bank’s balance sheet, however Hitting Despite high inflation, this week’s heat is always high..

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