Bitcoin price correction begins — Here’s how low BTC can go
The price of Bitcoin may be due for a deeper correction as the upward momentum is showing weakness. The price of Bitcoin (BTC) has been seeing a massive run in recent months as it surged by almost 100% from $10,000 to $19,800. However, the all-time high region at $20,000 has been showing significant resistance, causing the price to drop several times including today as BTC has now fall below $19,000 on Dec. 4.The chances of a correction have been slowly increasing amid diminishing volume in recent days. Multiple arguments can be made for a deeper correction, which wouldn’t necessarily be....
Related News
Bitcoin price started a downside correction from well above $40,000 against the US Dollar. BTC is now trading near a major support at $38,000, where the bulls are currently active. Bitcoin started a downside correction after it failed to stay above $40,000. The price is currently just below $39,000 and the 100 hourly simple moving […]
From last week’s highs, Bitcoin sustained a heavy correction into Saturday. The cryptocurrency fell from $16,000 to a low of $14,300, marking the first large correction of the recent uptrend. The cryptocurrency has since bounced back as the markets have turned risk-on once again on news of a seeming Biden presidency. While the Nasdaq futures […]
Crypto analyst KrissPax has revealed that the Dogecoin price has completed the first part of its bull phase, similar to what happened in the 2021 bull run. The analyst further provided insights into what is to come next for Dogecoin. Dogecoin Price Completes First Bull Phase In an X post, KrissPax mentioned that the Dogecoin price has completed its first up-phase this bull cycle, similar to the 2021 and 2017 bull runs. He noted that those previous cycles recorded two additional up-phases with huge percentage gains. Based on this, Dogecoin could record two more up-phases before its price....
Here's a look at what we are focusing on in the bitcoin price this morning. In yesterday evening’s analysis, our core focus was preparing for a large pullback on the gains we had seen across the last week or so. We surmised that the bitcoin price couldn’t just keep rising unchecked – at some point, people take profits off the table. As it turned out, when we published our evening analysis, we were only hours away from this correction. Price reached the 1300 level (which was a natural resistance level, we’ve talked about these sorts of psychologically important levels in the past), ran....
Bitcoin price started a downside correction from the $54,900 zone against the US Dollar. BTC is now consolidating and it could start a fresh increase if it clears $54,900 Bitcoin is showing positive signs above the $62,500 and $62,000 levels. The price is now trading well above the $62,000 level and the 100 hourly simple […]