Еhe BTC rate rapidly fell from $9,800 to $8,150 in less than a day for the first time in several months.
The chart looks horrific, the asset lost $800 in just a few minutes, which caused a real panic in the market. At the time of publication, BTC is trading at $8,300 per coin.
According to the well-known expert Crypto Michaël, the asset rushes to the next price zone at the level of $7500. He wrote about this in his Twitter account.
Too many lines on this chart, apologies.
But the green zone is my essential part.
Below that with a HTF and volume candle close and I'm going to target $7,500ish for 100MA test on the weekly.
Staying above -> nothing to worry.
I'd rather catch the big wave. pic.twitter.com/AsaBTkYDLU
— Crypto Michaël (@CryptoMichNL) September 24, 2019
At the time of this writing, Bitcoin seems to have stabilized around $8,300.
The total cryptocurrency market is about 220 billion US dollars at the time of publication. This value decreased by approximately 22 billion dollars on Tuesday. Bitcoin’s dominance is 68.9%.