Waiting For The Next Move: Bitcoin Recovers Following The $2,000 Crash (Market W

[Donken]

Waiting For The Next Move: Bitcoin Recovers Following The $2,000 Crash (Market W

Following the steep price drop of nearly $2,000, bitcoin bounced off the $17,600 bottom and has risen above $18,000 again. Most alternative coins have also recovered some of the losses, and the market cap has added about $20 billion since yesterday.

After the relatively calm weekend bitcoin had where it dabbled with the $19,000 price tag, the cryptocurrency experienced a significant drop yesterday. BTC went from a high of $19,300 to $18,000 before continuing south to the intraday bottom of about $17,600.

This became bitcoin’s lowest price registered in December. Nevertheless, the bulls took control at that point and didn’t allow any further declines. In the following hours, the primary cryptocurrency charged to $18,600 before retracing slightly to about $18,350.

From a technical viewpoint, BTC’s most significant support levels are situated at $18,000, $17,560, and $17,250. Alternatively, the digital asset has to overcome the $18,500 and $18,700 resistance lines if it’s to challenge $19,000 once again.


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[Fenix]

It seems that the price of bitcoin is no longer going to fall significantly, and if this is the case, then in the coming days we should expect further price increases in the cryptocurrency market.  Hopefully, this second price correction will be the last this year.  Then bitcoin still has a chance to break its previous price record of $ 20,000 and fix itself slightly above this level.