Analytics as of December 23, 2017

End of correction

BTC/USD

The prolonged and deep correction in the BTC/USD price, which began on December 17, created a panic among many traders, which was fueled by alarming publications of skeptical statements about the future of Bitcoin. Against this background, the price of Bitcoin set a minimum at 10718.00, breaking through the support level of 23.6% fibonacci. The Internet, for the umpteenth time, is full of headlines about the “soap bubble”. However, at the height of the excitement, the price completed the correction (40%) and resumed growth. We already had the pleasure of observing a correction of similar depth from September 8 to September 15, 2017, when the price sank by 36%. Forecasts for the price of BTC/USD for the next week have not changed, and still remain in the range of the gray corridor around the nineteen thousand area.