After falling below the critical level of $36.5k, the price tried to recover, and BTC tested the same level 4 times but could not move up.
If we switch to the daily chart, we can see that even in the May crash, the price struggled for quite some time in this zone.
We can also see a trendline being formed which also suggests that we could move to $28k in the coming weeks if Bitcoin doesn’t break the pattern.
Analysts are saying that even after such a crash, there is still a lot of leverage in the market.
If the US brings laws that help in the growth of Bitcoin and its adoption, then all great, but else we could again see a dump.
What are your thoughts as Bitcoin struggles at $36k and there are chances of breaking down? And do you think that we will see a crypto winter? Let us know in the comments below.