Bitcoin price volatility through multiple scenarios

Bitcoin price seems to have dropped back into consolidation after the recent market selloff. Uncertainty, as a result of these developments, increases as investors wonder whether to start buying or reduce their investment pools.

Bitcoin price faced heavy selling pressure at $24,664, the midpoint of the $17,578 to $31,749 range. After multiple rejections here, BTC crashed nearly 20% and retested $20,750 for the third time in the past month. This could result in Bitcoin price consolidating towards $20,750 without a target. However, if the capital is split between BTC and ETH, a quick sweep seems to be a plausible outcome.