09 May 2022
Six red weeks in a row for bitcoin - Not seen since 2014
Bitcoin just recorded its sixth consecutive red week. This has not been seen since 2014. The question is now, where will bitcoin find support?
The market is bleeding, and bitcoin just recorded its sixth consecutive red week. This is a rather historical observation, last seen in 2014.The bitcoin price briefly fell below the $30,000 mark yesterday and marked a new 2022 low of ~$29,700. However, we’re seeing a slight relief today.We’re zooming out this week, looking at major support levels. On a weekly level, the area between $28,000-$32,000 has shown to be a strong support level over the past years.This level is currently being defended, but a close below $28,000 would be a bearish signal.The next major support level is found at the previous ATH of ~$20,000.