By Bitcoin cryptocurrency can be expected to fall further toward the next support level 75200.00 (which stopped the previous correction 4 in the middle of September).
Bitcoin broke support zone
Likely to fall to support level 75200.00
Bitcoin cryptocurrency continues to fall after the earlier breakout of the support zone between the key support level 80000.00 (which has been reversing the price from the middle of October, as can be seen from the daily Bitcoin chart below), support trendline of the daily down channel from the start of October and the 61.8% Fibonacci correction of the upward impulse from the middle of September. The breakout of this support zone which accelerated the active impulse wave C of the intermediate ABC correction (4) from the end of September.
Given the short-term daily downtrend and the strongly bearish crypto sentiment seen today on the reported Binance hack, Bitcoin cryptocurrency can be expected to fall further toward the next support level 75200.00 (which stopped the previous correction 4 in the middle of September).
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