Bitcoin price hits 2-week low amid warning $22.5K loss means fresh dip
Bitcoin may go "hard lower" if it fails to preserve the area around $22,500, market participants say. Bitcoin (BTC) stayed lower at the Feb. 9 Wall Street open as a sweep of local lows increased bets of a more serious comedown. BTC/USD 4-hour candle chart (Bitstamp). Source: TradingView Trader: "Something feels off" about BTC strength Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it traded around $22,700 on Bitstamp. The pair had dipped to $22,378 earlier in the day, this marking its lowest levels since Jan. 25 and a reinforcement of $22,400 as an important zone to watch. “We tapped the swing low at $22,500 followed by a bounce. I would look for the bears to escalate the drop once we lose that low,” popular trader Crypto Tony summarized in part of Twitter coverage. BTC/USD annotated chart. Source: Crypto Tony/ Twitter Fellow trader Crypto Chase likewise forecast that Bitcoin was “More likely to go lower if 22.3k is tagged.” In an update to...