Bitcoin Falls Below $28,000 Just Hours Before Monthly Closing
Bitcoin (BTC) investors are anxiously waiting as the cryptocurrency fell below $28,000 just hours before the monthly closing. Although BTC had a successful performance in March, gaining 18.26 percent for the month, its recent decline caused concern among investors. The cryptocurrency has gained 75 percent in the last three months, rising from $16,500 to $29,000.
Crypto traders are currently identifying forward support and resistance levels, with the balance level of $27,700 being seen as the key support that bulls need to protect. Popular investor Crypto Tony advises that investors who have opened new long positions should watch this level and not worry unless BTC loses it. Meanwhile, Credible Crypto warns of short targets for BTC/USD pair at $22,000-$23,000, with possible positive winds blowing in the market, bringing the BTC price to $25,000-$26,000.
Tedtalksmacro sees a more optimistic perspective and argues that since November 2021, BTC has changed its structure to create a clean break in the bear market, introducing itself to those who want to enter the next higher cycle and wait.
The BTC/USD segment continues to be traded at $27,800 as traders and investors await the outcome of the monthly closing.