© Reuters
Investing.com – Although the basic psychological threshold of $ 20,000 has not yet been tested, cryptocurrency remains close to this area, still showing a clear “bearish” trend in terms of chart.
The pressure remains strong amid a sell-off on the world market and a wave of risk aversion. Nasdaq, for example, closed more than 4% lower on Thursday and fell 3.25%. The index, for its part, fell below the key threshold of 30,000 points for the first time in more than a year, falling by 2.42%. In Europe, the French index ended the day with a decline of 2.39%, and the German Dax index fell by 3.31%.
On Thursday, European investors were particularly shocked by the unexpected increase in the rate of 0.50% by the Swiss National Bank, which has so far been known as one of the “pigeon” central banks in the world.
As for the main cryptocurrency in the world, from a graphic point of view, the only positive point is that the threshold of $ 20 thousand. not yet tested on it. Bitcoin remains below several key thresholds that limit its growth potential, starting at a 200-week moving average, which is currently $ 22,365.
It should also be noted that, according to the weekly schedule, a break above $ 32,000 is needed to significantly improve the lower profile of BTC.
However, at this stage, a very likely scenario remains a break below the key threshold of $ 20,000, which has not been observed since December 2020. This zone is all the more important as it corresponds to the peak of December 2017 ($ 19,890).
The break above this zone in December 2020 was the trigger for the first BTC rally, which led to its peak – $ 60,000.
Below the $ 20,000 area and excluding psychological levels, the next support on the chart will be the peak reached in June 2019 at $ 13,765.
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