Bitcoin is under $60,000, but should traders sell or hold now
ambcrypto.comAnother curveball is being thrown at the crypto-industry right now, with Bitcoin and co. collectively bleeding on the charts. With Bitcoin dropping below $60,000, there might be a little bit of panic settling in.
However, it is important to analyze the market on a more structural and on-chain level to estimate the situation. This will be crucial to assessing whether it is a short-term anomaly or long-term correction.
Source: Trading View
According to the 4-hour chart, Bitcoin’s descending triangle faced a breach, at press time, after the support of $60,000 was tested on three previous occasions. On the 18th, 23rd, and 24th, BTC bounced back from the immediate support.
However, this time, the support fell. With the next support range established
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