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Breaking: Bitcoin price at risk after dipping below $20,000

Breaking: Bitcoin price at risk after dipping below $20,000
FXStreet TeamFXStreet TeamFXStreet

Bitcoin price has retraced nearly 10% over the past three days, going from a high of $22,020 on June 26th to recently hitting a low of $19,890.

The flagship cryptocurrency appears to have reached a critical area of support that would likely determine where it is going next. Further selling pressure that sends BTC price below $19,690 can confirm that the recent correction has more leg downs. If this were to happen, Bitcoin price could fall to $18,550 or lower. 

Bitcoin US dollar price chart

BTC 4-hour chart

Bitcoin price needs to reclaim $20,200 to have a chance of invalidating the pessimistic outlook. Overcoming such an important resistance level could trigger an upswing to $21,000. 

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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