FX.co ★ #Bitcoin chart analysis

Yesterday on the daily chart #Bitcoin we did get a brief dip below the 75,000 level, but no breakout occurred. The bulls managed to hold the price within the current support zone, however prospects for growth remain highly questionable and my bias remains toward continued decline. If price starts getting pushed toward 75,000, then with a high probability we will see a breakout downward. In that scenario we risk seeing the next wave of decline head toward 70,000. I do not plan to rush into buying the instrument; technically all the prerequisites for continued new lows are in place. At the same time I would consider purchases only for investment purposes.