Bitcoin Forecast – Price Must Hold $28,000 to Prevent Total Collapse
- Date: 21-May-2022
- Source: Yahoo News
- Sector:Financial Markets
- Country:Middle East
Bitcoin Forecast – Price Must Hold $28,000 to Prevent Total Collapse
Bitcoin is hovering above critical support at $28,000. Breaking lower would establish completion of the head and shoulder topping pattern. The initial target is $20,000, with a reasonable possibility of reaching $12,500 later this year, possibly soon if we see another crypto flash crash.
To repair near-term sentiment, bitcoin must get back above $32,000 soon.
Overall, I’m bullish on blockchain and will look to accumulate assets during the washout.