Welcome to "Eruptions" with DeFi Lava
Your weekly source of cryptocurrency and financial market news and analysis
Bitcoin BTC has ranged between $18.2k and $20.5k with a week over week price change of -4.45%. Price is currently battling the $19.5k support with the monthly candle close looming over the horizon.
We want to see the monthly candle (shown below) hold the $19.5k support, which comes from the previous bull market high for BTC from 2017.
The next major support line is at $14k, the most important level for Bitcoin based on number of touch points over previous years. It remains to be seen if we will visit this level. A monthly close below $19.5k could be an early warning sign.
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