350
137 shares, 350 points

Popular cryptocurrency trader Keith Wareing warns investors of a bearish scenario for Bitcoin. At the beginning of this month, the analyst, who examined an inverted cup and handle formation in Bitcoin, draws attention to the following levels.

The analyst draws attention to this formation in Bitcoin

Noting an inverted cup-and-handle formation in Bitcoin (BTC) earlier this month, Wareing states that it is a bearish structure formed during a downward price wave and then a stabilization period. Technically, the analyst, who thinks that this situation will reduce the price to the previous decline, also interprets the great collapse from the $ 65,000 peak…

Wareing reminds that the price of Bitcoin climbed to $ 65,000 in mid-April before falling, and after this period, the price quickly dropped to $ 30,000, then fell to $ 28, 800 on June 22. In addition, stating that the leading cryptocurrency has successfully realized this decline, the analyst reports that the bullish direction reversal is insufficient to expand the momentum after facing relatively higher selling pressure in the $35,000 and $36,000 range. Your analyst also warns for levels of…

Keith Wareing: Wait for Bitcoin (BTC) between $24 and $29k

In the continuation of the technical analysis, the analyst states that the handle area of ​​the model is about to be exhausted, adding that the Bitcoin price will fluctuate for three to four more weeks within the structure. In the continuation of the movement, the leading crypto could drop further and reach $24,000. Wareing recently explained his thoughts as follows:

If the handle is broken, expect the new range to be between $24,000 and $29,000… This scenario is range dependent for another 3-4 weeks…

Finally, Cryptocoin. com, adding that bearish warnings for Bitcoin gained momentum in the weeks after global regulators increased their pressure on the cryptocurrency industry. He states that it effectively bans any type of crypto-related activity, including mining, one of the few crypto industries.


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350
137 shares, 350 points

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