Target Price if Bitcoin fails again to break and hold 12,000!

By Juris Formaran | Less Trade Trader | 19 Aug 2020

Bitcoin price dropped below 12,000 today!

Luckily, Bitcoin perfectly holds 11,600 a key support in lower time frame.

It also bounces back at 11,800 level.

Now

What If Bitcoin fails to break and hold 12,000 again?

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It is probable that Bitcoin will fall at 10,000-10,500 price range.

Based on the chart, this price range is a resistance which became a support for Bitcoin.

50 MA is inside the said price range.

It indicates that it is also a good support for Bitcoin if it breaks the 20 MA.

Happy Trading!

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Juris Formaran

Juris Doctor, Financial Management Degree Holder, Entrepreneur, Investor and Trader

Less Trade Trader

As a trader and investor, We always need a strategy. A strategy that is simple, dynamic, and profitable. It must also applicable to your conviction in trading and personal circumstances. In order to create your own strategy in trading, a trader or investor must: 1. Learn it 2. Trade it 3. Earn from it 4. Repeat it. My blog will provide news, information, learning, and insights about cryptocurrencies to help you devise a strategy.

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