Bitcoin Analysis: Potential Price Drop Ahead

The price of Bitcoin is trying to remain under the broken support level of 40234. Should the asset stay there at the end of the trading week, its price might drop to the level of 35000. Of course, the bearish trap might potentially form. However, a price drop is ahead. So, let’s observe when it is about to happen.The price of the American stock index S&P500 reached its maximum point at the level of 4793 and jumped. Hence, the asset’s price is likely to rebound to the broken level and then rise.Now, Tesla stocks are testing the supporting level of 212.36. The price of this asset might potentially rise and hit the level of 265.13. The asset might also rebound from the level of 194.07. For this reason, it would be interesting to follow the price formations at these levels to forecast the upcoming price movements.