BTC/USD Forex Signal: Bitcoin About to Drop Below 20,000

Bearish view

  • Sell the BTC/USD pair and set a take-profit at 19,700.
  • Add a stop-loss at 22,500.
  • Timeline: 1-2 days.

Bullish view

  • Set a buy-stop at 21,800 and a take-profit at 22,500.
  • Add a stop-loss at 20,000.

The BTC/USD price declined sharply as concerns about the global economy continued. Bitcoin dropped below the important psychological level of $21,000, which was sharply lower than this month’s high of over $25,000.

Steve Walker

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