Analyst Says $ 42,000 Must Be Held To Keep Bitcoin Price From Sweeping Momentum

Bitcoin bulls continued to fight with bears near the $ 43,000 support level on September 27, as China’s crackdown on all things cryptocurrency halted positive price movements from last week and stifled growth during the day.

According to Eric Krown, a cryptocurrency trader and host of Krown Crypto Cave, which comes next for Bitcoin (BTC) “Really depends on the time period you are talking about”, but it is currently focusing on the more medium to long term outlook.

In the last episode of “The Market Report” with Cointelegraph, the cryptocurrency trader indicated that for now, “We’re probably going to be around that $ 40,000 region” and suggested that he “would look into this potential turning point here” if BTC succeeds to keep $ 42,000. .

If BTC fails to maintain this level of support, Krown indicated that the price could continue to fall for a while and fall “to $ 32,000 – $ 33,000, [filling] the CME gap from months ago.

While this is a possible scenario, Krown has suggested that he sees a more positive future for the price of Bitcoin as we move into the last quarter of 2021.

Krown said:

“I’m actually a little more optimistic here. I think if Bitcoin has bottomed out here and spends a little bit of time here, or if it goes down to $ 32,000 to $ 33,000, I actually think the end of the year probably looks pretty good.

“The Market Report” live streams every Thursday at 4:00 p.m. UTC, so be sure to head to Cointelegraph YouTube page, and crush that Like button and subscribe for all of our future videos and updates.

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