Bitcoin: Potential Support in the Event of a Drop

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In the event of a sustained correction by Bitcoin, we want to take a look at some key areas of support that price of Bitcoin could bounce at if we in fact make it there. While the 20 week MA is the bull market support, currently ranging from $28k - $31k, the 50D MA is much closer, currently at around $41k. The 50D moving average coincidentally is almost about to coincide with the prior local top at $42k. In the event of a continued correction by the price of Bitcoin, perhaps we would look to the 50D MA to provide a bounce, like it did back in January. Where do you think the price of Bitcoin is headed? Let me know in the comments!

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Disclaimer: The information presented within this video is NOT financial advice.

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