Bitcoin

<p>The post <a href="https://coinpedia.org/price-analysis/bitcoin-btc-price-at-risk-of-dropping-below-30k-if-this-happens/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Price At Risk of Dropping Below $30K If This Happens</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Analyst Eric Krown Crypto is warning Bitcoin investors that this might be the last heads-up for February. In a recent video, Krown talks about how Bitcoin has been doing well, showing five straight green months, which hasn’t happened since September.</p>
<p>Krown looks at the history and notes that usually, after a green month, there are about three more before a red one. The current trend puts Bitcoin in a unique spot, possibly heading for a sixth green month.</p>
<p>However, Krown also points out some signs on the monthly chart that suggest Bitcoin might be undecided, potentially hinting at a reversal. He thinks February could be a chance for a correction, given Bitcoin’s rapid rise without many pullbacks since September.</p>
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<p>Switching to the five-day chart, Krown notes the volatility at extreme lows and the stochastic momentum setup indicating a downside disposition. He suggests a potential short-term rally to $44,000 or $45,000 before a more likely move to the downside, stressing the importance of $46,000 as a bullish confirmation level.</p>
<p>In simpler terms, Krown thinks Bitcoin might take a breather and go down a bit, possibly to around $40,000, before potentially going up again. He reminds everyone to be cautious and pay attention to key levels to confirm where Bitcoin might be headed. While discussing the worst-case scenario, which could be around $28,000, he believes $42,250 is critical to watch for confirmation of a local high.</p>
<p>Bitcoin is at a big decision point. It dropped 12% from its recent high last month and now faces the risk of breaking the critical $40,000 support. This $40,000 level has supported Bitcoin strongly in the past, making some people hopeful for a possible bounce back. However, if Bitcoin falls below $40,000, the next support level is around $30,000. At the time of writing, Bitcoin is trading at $42,800.</p>

Bitcoin (BTC) Price At Risk of Dropping Below $30K If This Happens

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