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On the weekly chart, the global picture has not changed much in recent days. Despite one green candle, which still broke a record sequence of nine red candles, bitcoin’s downward slide continues. In the current situation, two support levels ($19 500 and $12 000) can be focused on, but they do not guarantee that the bottom will be reached. The bitcoin price will reverse when the macroeconomic situation in the markets improves and market participants begin to actively buy into the cryptocurrency.

The material is not an investment recommendation and is published for information purposes only. Remember: technical analysis does not guarantee successful trading, as it is based on historical data only.

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