Bitcoin is Heading South: Potential Rise Ahead?

Bitcoin is slowly approaching the supporting level of 25000. First, the asset has formed a very narrow range between the levels 30000 and 31000 and then broke it. Now, Bitcoin has formed a new similar range between the levels 29000 and 30000. The asset might potentially break the lower part of the range, that is, the level of 29000, and possibly form a new narrow range between the levels 28000 and 29000. Currently, the price chart reflects the gradual accumulation and the upcoming abrupt jump towards one of the range sides.The price of silver has dropped to the uptrend and horizontal support at the level of 22.20. Hence, silver is likely to rebound at the crossing point of these trendlines and resume the ascending move. So, let’s observe what might happen next.After the third attempt, the American stock index S&P500 has finally managed to rebound from the broken uptrend and drop. It might undergo correction soon. Should the asset’s price manage to break the level of 4448, it could potentially dive even deeper and acquire the required support at the level of 4195.