On the 17th (local time), the beat coin dropped again under $ 10,000 in the US and European trading hours. According to CNBC, the beat coin pushed up to $ 9230 at the time, which was in tune with the peak in December.
The market's biggest concern now is whether the short-term bottom of the bit coin should go where. According to CNBC, analysts' views on short-term bottoms are mixed, saying that 'beat coin has been on the test bench'.
Technical analysts say it is too early to tell if bit coin prices are bottoming, but they are watching the 100-day moving average on the chart.
Bitcoin's 100-day horizon was $ 10,000, or $ 9,000, $ 7,000, and $ 5,000. Scott Reedler, a T3 Live.com partner, said Bitcoin "kept the 100-day horizon" and "has never been less than 100 days in the last two years."
"The important support line for the beat coin price is on the test bench," he said, "and I am looking for which way to support it." The question is what kind of rebound would be. "He said. The 50-day horizon of Bitcoin is $ 14,500, according to Reddler's chart.
"If the rebound does not deviate significantly from the 100-day mark, the next spot will be the 200-day mark," he said. The 200-day line on his chart is $ 7,100.
Citigroup analysts, on the other hand, warned that the beat coin would decline sharply to the 200-day mark. On the charts of the group, the 200-day line is $ 5658.
