Bitcoin cryptocurrency can be expected to fall to the next support level 66000.00 (which reversed the price multiple times in March).
- Bitcoin broke round support level 70000.00
- Likely to fall to support level 66000.00
Bitcoin cryptocurrency recently broke the support zone between the round support level 70000.00 (which stopped the previous minor correction ii at the start of April, as can be seen from the Bitcoin chart below), and the 50% Fibonacci correction of the ABC correction (2) from the start of February. The breakout of this support zone accelerated active short-term impulse wave 3 – which belongs to the sharp downward impulse wave (3) from the start of May.
Given the clear weekly downtrend and the bearish sentiment affecting whole crypto market at the moment, Bitcoin cryptocurrency can be expected to fall to the next support level 66000.00 (which reversed the price multiple times in March).