Bitcoin cryptocurrency can be expected to fall to the next round support level 70000.00 (which stopped the previous correction ii).
- Bitcoin broke support zone
- Likely to test support level 70000.00
Bitcoin cryptocurrency recently broke through the support zone lying between the key support level 74800.00 (which has been reversing Bitcoin from the middle of April, as can be seen from the dilly Bitcoin chart below), support trendline of the daily up channel from February and the 50% Fibonacci correction of the upward impulse C from the end of March. The breakout of this support zone accelerated the active intermediate impulse wave (3) from the start of May.
Given the bearish sentiment seen across the crypto markets today and the strength of the active intermediate impulse wave (3), Bitcoin cryptocurrency can be expected to fall to the next round support level 70000.00 (which stopped the previous correction ii).
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