Bitcoin Broke Out But Its Bearish Again, Broke $5000 Level As Well.

Well, if you're trading on crypto space these days, the you must be aware of the ugly Bear market everyone is facing these days. Market cap has gone don below $170 Billion while Bitcoin has just broken $5000 and now trading below it. 

Let's see the chart to understand the whole scenario:

As you can see in the chart above, Bitcoin has broken down again from $5400 support level and even broke $5000 support. Currently it is trading above $4900 but for how long, that can't be sad. The whole market is facing the wrath of Bears and every single coin has fallen by double-digit percentages.

• If we take Bitcoin's case, the next support would be $4500 if Bitcoin continues it Bearish rally. 
• The first resistance would be $5200 and then $5600. 
• Although, RSI levels has gone way Bearish and currently trading under 15. 
• All this Beairsh action now indicating a short term bounce in Bitcoin which can see soon enough in the market. 

So, always use tight stop loss and use proper risk management. 

Thanks for reading ..!!

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