Bitcoin Forecast: Potential Price Drop Ahead
The price of Bitcoin keeps testing the resistance level of 68998 but to no avail. Now, the price of this asset is heading south and targeting the psychological level of 60000. In general, it looks like the price of Bitcoin might drop soon. So, let’s observe what might happen next.
The price of the Canadian dollar is approaching the upper boundary of the local downtrend that resembles a flag. Should the asset’s price break the upper boundary of this flag-like pattern, it might potentially target the resistance level of 1.3900 and test it. Time will tell whether this scenario might work out.
The price of Brent oil tested the level of 84.00. Currently, it is trying to form a bearish engulfing. In principle, the forming rectangle can still come into play. Hence, the price of oil might potentially break the lower side of the triangle soon.
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