If you are a "Hodler" here is where you could find support in Bitcoin
- Bitcoin has crashed in today's session and has lost about 6.75% of its value.
- There are some longer-term support levels that could stem the losses.
Below is the weekly BTC/USD chart and you can see we are heading to some key support zones.
Today the price of Bitcoin fell and the price is now headed toward the 7,310.00 support used as a resistance zone on the week of the 3rd September 2018.
Also in the 2019 Bitcoin bull run the price also used the level as support before continuing the uptrend to reach 14k.
Now, this level could hold but the main support could be considered to be at 5,777.00 which has historically provided more support.
There are some also key round numbers between the points most notably 6k and 7k. They are always worth keeping an eye on.
Author
Rajan Dhall, MSTA
FX Daily
Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.
