Bitcoin Price Analysis: BTC/USD not if but when $3000 comes under serious threat
|- BTC/USD remains firmly in the control of the market bears, down over 3% on Tuesday.
- Should a breach be seen of the $3300 area, then $3000 will be under serious threat of a breach.
The Bitcoin price continues to come under pressure on Tuesday, no mercy being shown from the bears, in a sea of red. Towards the latter stages of the session, nursing losses of over 3%, no sign of a slowdown.
BTC/USD bears are pressing for a retest of the recent bottom area and stabilization, which has been seen through 7th December right up to today, Tuesday 11th. A breach of the $3300 territory will likely expose a retest of the big $3000 mark.
Technically, given current momentum the big $3000 level could come under threat of being breached to the downside. The next area after this would naturally be eyed now at $2500, which has not been seen since July 2017.
BTC/USD 4-hour chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.