Summary of Article
- Bitcoin Price Drop: Bitcoin price has dropped below $22,000, flashing massive bearish signals impending in the next few hours.
- Possibility of Bullish Divergence: Despite the bearish signals, some possibility of a bullish divergence continues to flash.
- Technical Indicators Pointing Towards Bullish Breakout: A couple of technical indicators are also pointing towards a bullish breakout and suggest that the price is at the tip of a massive explosion.
Bitcoin Price Drop Below 22K
The bitcoin price, after consolidating within a very narrow range for a few days, plunged below the crucial support level of $22,000. The bearish volume has accumulated heavily, which may keep the rally within the consolidation range for an extended period. Hence, the price is believed to test the lower support below $21,500 in the coming days, which may attract huge liquidity to the platform.
Possibility Of Bullish Divergence
In spite of prevailing bearish clouds over BTC’s price rally and its drop below $22K mark with heavy accumulation of bearish volume – some possibility of a bullish divergence still continues to flash. It is believed that before this quarter comes to an end – it will display massive price action causing more than 20%-25% upswing leading to reversal in trend thus sparking off fine upsurge.