August 20, 2022

Bitcoin falls to $45K in sequel to 20% BTC price crash

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Bitcoin (BTC) extended its losses on Feb. 23 as selling pressure took markets below $47,000 for the first time in over a week. 

BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview

Fresh dive takes BTC/USD to 8-day lows

Data from Cointelegraph Markets and TradingView painted a gloomy picture for bulls on Tuesday as BTC/USD hit lows of $45,000 on Bitstamp. 

The losses reverse a rebound that halted Monday’s 20% price crash from all-time highs near $58,000. Bitcoin bounced at $47,400 on the day to return to $54,000 before a fresh dip took hold.

At the time of writing, $47,000 was again acting as some form of focus for support, with the trajectory still unclear amid heavy volatility.

Analysis of buy and sell positions produced little hope for stemming losses should that level fail, with support lacking below $46,500.

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BTC/USD support and resistance levels chart. Source: WhaleMap

$50,000 set to become resistance again

For analysts,Title: Bitcoin falls to $45K in sequel to 20% BTC price crash
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Published Date: Tue, 23 Feb 2021 09:33:55 +0000