There is growing risk of additional breakdowns in price because of negative momentum readings based on weekly and monthly price data. If a volatile down move occurs, initial support is seen at $25,000, which is around the May 9 price low. There is additional support at the 200-week moving average, currently at $22,061, which could stabilize price action.
Bitcoin (BTC) Price Hovers Above $62K
Bitcoin slid toward $62,000 during the Asian and European mornings on Wednesday as part of a broader dip across the...