Bitcoin Chart Points to Next Key Level: 2017’s Bull Market Peak

(Bloomberg) -- Bitcoin could be in for more pain if it takes another leg down, based on a so-called point and figure analysis. Another 10% drawdown (as marked by red o’s) would drag it below the recent support zone (highlighted by the parallel white lines). If that happens, the next level of support is were the 2017 bull market topped out (dotted purple line) -- or around $19,400

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