Bitcoin’s Recent $3,000 Correction Actually Formed a Bullish Candle

[Jentot]

Bitcoin’s Recent $3,000 Correction Actually Formed a Bullish Candle

Bitcoin has faced an extremely strong correction since its local highs around $19,500. The leading cryptocurrency currently trades for $17,000 almost exactly, though fell as low as $16,200 just the other day.

That means that from its local highs, the leading cryptocurrency was down by over $3,000.

Many have not taken this correction well: just days ago, there were many expecting Bitcoin to move towards new all-time highs, citing a confluence of technical and fundamental trends.

But this rally actually formed a somewhat bullish candle, despite what conventional wisdom may lead some to believe. BTC  actually bounced at an extremely important macro level.

See more for yourself here

[Lukasz]

I totally agree with your opinion. On the big scale consistent rise in price is better than a sudden spike for everyone involved. A lot of hype PayPal caused the price to rally so now surprises here . ETH 2.0 coming is going to be a big game changer as well contributing to the coming Bull run this was just the warm up.

[Papusha20]

Bitcoin’s Recent $3,000 Correction Actually Formed a Bullish Candle

Bitcoin has faced an extremely strong correction since its local highs around $19,500. The leading cryptocurrency currently trades for $17,000 almost exactly, though fell as low as $16,200 just the other day.

That means that from its local highs, the leading cryptocurrency was down by over $3,000.

Many have not taken this correction well: just days ago, there were many expecting Bitcoin to move towards new all-time highs, citing a confluence of technical and fundamental trends.

But this rally actually formed a somewhat bullish candle, despite what conventional wisdom may lead some to believe. BTC  actually bounced at an extremely important macro level.

See more for yourself here

I support your post. From your post we learned a lot about the price of Bitcoin.  A few days ago the price of Bitcoin was 19,510.  But the current price has come down a little to 17610 dollars. In the future, the price of Bitcoin is more likely to increase. In 2021, the price of Bitcoin is more likely to hit 25 thousand to 30 thousand dollars.