Bitcoin chartists see rout worsening with $US40,000 in focus
Joanna Ossinger
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A cohort of chart watchers on Wall Street say bitcoinâs deepest selloff since crypto mania kicked off last year looks set to intensify.
Evercore ISIâs Rich Ross reckons prices are destined to fall back to the 200-day moving average, following a path of other speculative assets, which would put bitcoin back at $US40,000 compared with just under $US44,000 currently.
Others are watching for a pattern of âlower highs and lower lowsâ and say Elon Muskâs unpredictable tweets will keep traditional investors on the sidelines. Thereâs also speculation that gold is starting to draw money away from crypto.
How much lower could Bitcoin go?
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Bitcoin chartists see rout worsening with $40,000 in focus
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