Bitcoin (BTC) cryptocurrency can be expected to fall toward the next support level 101300.00

Bitcoin cryptocurrency can be expected to fall toward the next support level 101300.00 (which stopped the previous short-term correction iv).

Bitcoin cryptocurrency recently pulled back from the resistance zone, which is located between the multi-month resistance level at $107,500.00 (which has been keeping the price in check since the middle of December, as can be seen from the daily Bitcoin chart below) and the upper daily Bollinger Band. The downward move from the resistance level at $107,500.00 stopped previous short-term impulse wave (v), which belongs to the sharp short-term impulse wave (3) from the middle of April. If the price closes today at the current levels it will form the daily Japanese candlestick pattern Long-legged Doji.

Given the strength of the resistance level at $107,500.00, overbought daily Stochastic and the weakening bullish sentiment across the cryptocurrency markets today, Bitcoin cryptocurrency can be expected to fall toward the next support level at $101,300.00 (which stopped the previous short-term correction (iv)).output: Bitcoin cryptocurrency is expected to fall toward the next support level $101,300 (which stopped the previous short-term correction (iv) at the beginning of April).

Bitcoin cryptocurrency recently pulled back from the resistance zone, which is located between the multi-month resistance level at $107,500 (which has been keeping the price in check since the middle of December, as can be seen from the daily Bitcoin chart below) and the upper daily Bollinger Band. The downward move from the resistance level at $107,500 stopped previous short-term impulse wave (v), which belongs to the sharp short-term impulse wave (3) from the middle of April. If the price closes today at the current levels it will form the daily Japanese candlestick pattern Long-legged Doji.

Given the strength of the resistance level at $107,500, overbought daily Stochastic and the weakening bullish sentiment across the cryptocurrency markets today, Bitcoin cryptocurrency can be expected to fall toward the next support level at $101,300 (which stopped the previous short-term correction (iv) at the beginning of April).

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