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.
You May Also Like
Market overview of the main cryptocurrency pairs for the current week (from 11/26/2018 to 12/02/2018)
In today's review, as always, we summarize the results of the outgoing week and analyze the overall price dynamics
Analysis of the situation in the cryptocurrency market from August 22 to August 27, 2022
Bitcoin has been in uncertainty for the past few days. What will happen next? KickEX analysts consider either $21,800 as a positive target for movement, or, in the event of a breakdown and consolidation below the $20,800 level, a continuation of the movement to levels below $19,000.
