Bitcoin Price Correction

Bitcoin falls below $45,000, Are we in Bitcoin Bear Market Now?

Bitcoin Bear Market is still debatable as price below $45000 has broken many local supports in lower time frames. Red Bearish Candles are quite prominent even in the daily timeframe. Have we entered a Bearish Market now?

The live Bitcoin price today is $45,325.34 with a 24-hour trading volume of $35,248,539,997. Bitcoin is down 2.21% in the last 24 hours, with a live market cap of $851,646,048,612. We just posted that we see many Bullish Signals on Bitcoin Chart and it can rise to 250%. Let’s see what Bitcoin Chart further says.

Bitcoin Bear Market: Technical

Bitcoin Bear Market
Source: Bitcoin Chart by TradingView

We are not in a bear market; We don’t see it yet! For a bearish market, some important levels need to be broken. All we can say currently is, this may be a pullback. A trader must trade levels, not emotions. And have an open mind to ongoing events as crypto changes quickly.

The next few weeks are very important for Bitcoin. For me, 21 weekly ema is one of the very important key levels. Currently, it’s at $40,000 ~ $41,000 (These are weekly levels.) For now, we just need to hold these weekly levels for Bullishness so Bitcoin Bear Market is still away. On Daily, $42,850 is an important level for Bitcoin to retest as we already posted in an article you can read here.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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