Analysts Believe Bitcoin May Continue To Decline

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Over the past day, the cost of bitcoin has decreased by 12% (from $ 55.5 thousand). At 14:00 Moscow time, the main cryptocurrency is traded on the Binance crypto exchange for $ 49.4 thousand. Today, on April 23, the quotes of the first digital coin dropped to $ 47.5 thousand. trading volume fell to $ 94 billion, writes RBC Crypto.

Trader and founder of Tradunity Dmitry Lavrov believes that the quotes of the main cryptocurrency will continue to fall. In his opinion, in order to return to the growth of bitcoin, it is necessary to overcome the resistance level at around $ 50 thousand.If the first digital coin continues to decline further and breaks the support level located around $ 42.5 thousand, then the quotes may fall to $ 30 thousand, the trader noted.

Photo: TradingView

NewsBTC analyst Ayash Jindal is of the same opinion. He claims that now the main resistance levels for bitcoin are at $ 51.5, $ 52.5 and $ 53 thousand. According to the analyst, the main support level is located around $ 48 thousand. If bitcoin falls below this mark, it will continue to fall in price further.

Photo: TradingView

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