This past month Bitcoin has been testing between $3.5k and $3.6k, and overall the zone has been treated as an opportunity to buy for traders.

Under a completely bearish circumstance, Bitcoin will dip below $3,550 and continue to drop possibly testing its previous temporary bottom at $3.2k. However, many analysts predict that we may plunge further downwards and see fresh yearly lows around $2,500.

In the case that this is a healthy correction, Bitcoin will continue to consolidate with $3.5k as support and $4k as resistance.

Read the full analysis here

BTC