Here’s What May Have Caused Bitcoin to Nosedive into Its Key Support

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Bitcoin saw a nosedive that caused it to erase all of yesterday afternoon’s gains as a result of the intense selling pressure around $13,800 This level marks the cryptocurrency’s 2019 highs, and a continued bout of trading at this level could confirm this as a local top It is important to note that BTC has found support above $13,200, which is a positive sign suggesting that upside is imminent The resistance here isn’t the only factor that may have sparked this selloff Analysts are noting that a sudden surge in the U.S. Dollar’s value may have struck a blow to the cryptocurrency as well Bitcoin and the aggregated cryptocurrency market have been caught within a strong uptrend throughout the past few days and weeks, but this momentum is now showing signs of faltering. Overnight, BTC witnessed its first harsh rejection seen throughout the course of its recent uptrend. This rejection…

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