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Bitcoin (BTC) Price Update: Breakdown Price Target by devytan

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· @devytan ·
$3.59
Bitcoin (BTC) Price Update: Breakdown Price Target
Hi guys!

Here are my thoughts on bitcoin for today.

## BTC - Daily Chart
Tools used: **Smoothen Moving Average**, **Trend-Based Fib Extension** and **Trendlines**
![5aab398965d24.png](https://steemitimages.com/DQmdUot5VuFp8NfRDZLfNLEueoVWi5ZswjuhW28GLZ6HNTQ/5aab398965d24.png)
If this 200 SMMA support fails to hold, I would expect bitcoin to go under $5,000. Because the last time bitcoin trading under the 200 SMMA was multi months bear trend on 2014. And when that happens I would collect USD while waiting for bitcoin to go to accumulation phase again for another cycle.

## Disclaimer
You know the drill guys. This is just opinion and not a financial advise. Do you own research and decide your own trades. Cheers!
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