Bitcoin Likely to Drop Soon

Bitcoin keeps moving in a very narrow range, deciding on the next move. The asset is likely to pull back from the resistance area formed between levels 28600 and 25500. Considering the high volatility of this asset, it seems that the price of Bitcoin is likely to dive and target the lowest level of the supporting zone. Both the common traders and large market players are keen on buying Bitcoin. Of course, Bitcoin might also break the supporting zone, but this is less likely to happen. So, it is worth observing what is going to happen next.

Gold is testing the level of 1850 and ascending line of the local trend, trying to close the trading day with a small candle and signifying the continuation of ascending move. It is noteworthy that the downtrend is at the resistance of 1890. Hence, gold is likely to drop at the crossing point of the abovementioned trendlines.

Brent oil is testing the resistance at the level of 124 and might target the historical level of 138 next. It is likely to break the level of 124.00 through. However, oil might not manage to break a very important level of 138.00 just yet, but undergo correction instead, and drop. In this case, it would be interesting to follow the price movements next to the resistance.

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