Bitcoin: 18% Crash Hits Four-Month Low
Bitcoin drops 18% to $60,500 four-month low with $1B longs liquidated; 4h chart shows RSI 22.19 oversold inside Bollinger support at $60450.
SourceAnalysis
Bitcoin plunged 18% in four days to a four-month low of $60,500 after $1 billion in long liquidations and a $13,500 slide since MicroStrategy sold 32 BTC.
Price action on the 4h chart places BTC inside the Bollinger Bands testing lower support at $60450.17 while RSI(14) at 22.19 signals deep oversold conditions; the MACD death cross at -2387.1 and EMA50 resistance at $68706.45 cap any bounce, setting up a likely retest of the $60924 area before further downside pressure builds in this crypto market crash.
Bull Theory
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