Analysis: Bitcoin's support around $83,000 is not solid, caution is needed against further decline and price reaction

BlockBeats News, April 20th, according to Cointelegraph report, despite Bitcoin's overall weekend volatility being relatively low, it still attempted to contain this week's downward trend. Analyst Mark Cullen stated: "Although market liquidity still points to $90,000. I don't think the $83,000 support level is 'safe', the lows of last Sunday and Wednesday may be retested, attention needs to be paid to the subsequent reaction and whether a bullish structure can be rebuilt along the lower boundary of the range."

Nevertheless, Mark Cullen and other analysts believe that during the Easter holiday period, the short-term price of Bitcoin will still fluctuate in the range of $83,000 to $86,000.