Is Bitcoin Time Over ? Why Cryptocurrencies are Drilling the Ground?

As we have seen a huge rally in cryptocurrencies which attract most people, especially youth. Our youths are crazy to invest in Cryptocurrencies especially in coins because they are very cheaper for them. They think they will invest a small amount in any coin and they will get billions of coins and if it will increase one or two dollars then will become rich. But it is like a dream which will not be going to true (expectations are always there because in the last one or two years it happened some of the coin price touch sky like a rocket but it is not easily possible in future. This mindset to become rich is very common in our youths.

Now let's discuss WHAT HAPPENED TO CRYPTO? Why it is drilling the ground now.

As crypto charts are very negative and show the reversal sign after a huge rally even the BITCOIN (Leader of Crypto) is falling 3%, 5% smoothly on daily basis. It makes reversal candle and starts falling as it is publishing on 20-02-2022 Bitcoin Price 38236 Dollar which is 4.5% Down today and still moving towards their support area which is 29556 Dollar. Due to War tension, it is looking that it will touch that support area very soon means a sharp fall can be possible in the future and it is not up to Bitcoin you may see all cryptocurrencies Etherium, Litecoin, Tron, Ripple, etc may fall like that.

A big question whether it will stop near it is strong support if we talk about this it is not easily possible to break it is strong support area but if it breaks then again a massive downside will open in the future but no one exact predict what will be going to happen we have to prepare accordingly as we already know crypto is very risky.

But one thing is clear Bitcoin has opened its area to fall down. Let's see what happens 

 

Disclaimer: This Chart Study is based on the theory of technical analysis and personal observations. This does not claim for Profit & Loss. 
We are not responsible for any profit or losses made by traders and investors. It is only the outlook of the market with reference to its previous performance. 
All information is a point of view and is for educational and informational use only. All Judicial you are advised to take your position with your sense and judgment.

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