Bitcoin failed to record any increase over the last five days. A closer look at the charts revealed that although there were several push to the top, all failed to yield results. For example, on Monday, the apex coin hit a high of $25,500 but met a strong barrier.
Due to this, it went on a downtrend and closed losing a few percent. There was no notable price change on Tuesday, but that trading session was represented by a red candle indicating another selloff.
The drop continued over the next two days as we observed more red candles. On average, the top coin lost 1% daily which totals 4%. However, the corrections are biting harder. In an unexpected turn of events, the selloff increased.
Bitcoin Lost the $22k Support
BTC opened the current intraday session at $23,000, bitcoin was met by massive retracement that got intense by the minute. As a result, it dipped below $22k. A few minutes to the time of writing, it recorded a low of $21,404.
Several indicators point to more downtrends ahead.
Source: https://coinfomania.com/bitcoin-price-analysis-btc-retraced-to-21k-as-correction-bites-harder/#utm_source=rss&%23038;utm_medium=rss&%23038;utm_campaign=bitcoin-price-analysis-btc-retraced-to-21k-as-correction-bites-harder