Bitcoin Forecast: Potential Drop Ahead

Bitcoin broke the supporting level of 25500, confirming the formation of a pennant. Now, Bitcoin can safely target the level of 12500. The asset will likely keep going down until the market players regain their interest in this cryptocurrency.

Brent oil has pulled from the level of 124.00, reversing down. Oil is likely to approach the level of 101 and gain significant support.

The price of the Euro has closely approached the level of 1.0350 away from which it might undergo correction and jump. Although the asset might also break this level and drop. So, it is worth observing what is about to happen next.

Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.
Past performance is not indicative of future results.
High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% and 72% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Futures and Options: Trading futures and options on margin carries a high degree of risk and may result in losses exceeding your initial investment. These products are not suitable for all investors. Ensure you fully understand the risks and take appropriate care to manage your risk.