FX.co ★ #Bitcoin chart analysis

Yesterday on the daily chart #Bitcoin we did get a drop below the 75000 level, but no breakout occurred. The bulls managed to hold the price within the current support zone, however the prospects for upside remain highly questionable and my priority remains on the continuation of the decline. If they start getting squeezed to 75000, then with a high probability we'll get a break to the downside. In that scenario we risk seeing the next wave of decline already toward 70000. I don't plan to rush into buying the instrument, technically there are all the prerequisites for continued new lows. At the same time I consider purchases only for investment purposes.