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Analysts warn that possible downside wick could push BTC price as low as $44K
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It looks as though the year-end rally that many crypto traders had hoped for will have to wait until 2022, as Bitcoin (BTC) bears gained the upper hand on Dec. 28 and hammered the price of BTC below support at $48,000.
Data from Cointelegraph Markets Pro and TradingView shows that an early morning wave of selling broke through BTC support at $50,000 and was followed by a second wave in the early afternoon that dropped the top cryptocurrency to a daily low of $47,318 before bulls managed to stem the outflow.
Here’s a look at what several market analysts are saying about the reasons behind this latest correction and what to look out for as 2021 comes to a close.
Insight into the technical reasons for the year-end correction for BTC price was
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