Bitcoin Could Face Deeper Correction After Dropping $2,000 From Highs
Bitcoin has sustained a strong correction since its $19,600 highs seen earlier today. The coin currently trades for $17,300, down approximately 12% from those highs. Some have suggested the coin could drop lower toward $16,000 in the days ahead. Macro charts show that $16,000 is where Bitcoin may find serious support. Bitcoin Undergoes Strong Drop From Previous Highs Bitcoin has sustained a strong correction since its $19,600 highs seen earlier today. The coin currently trades […]
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Bitcoin has undergone a drop since the local highs of $19,000. The coin currently trades for $18,500, though traded as low as $17,500 earlier today. The bounce has surprised many analysts, who thought that Bitcoin would sustain a deeper correction into the $15,000-16,000 range. Yet this bounce has come at a cost: the funding rates […]
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....
Bitcoin price in a flash is now well below $40,000, reaching as low as $30,000 this morning during the chaos. The selloff is the worst since Black Thursday last year at the onset of the pandemic, but things could still go a lot deeper. Here’s what data says about assets – even cryptocurrencies – when […]
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 […]
Here's a look at what we are focusing on in the bitcoin price this morning. In yesterday’s analysis, we noted that the run we have seen in the bitcoin price over the last week or so would likely see some degree of correction near term. That it continued through New Year is unusual in itself – we normally see an end of year correction in the more traditional financial assets as investors take profits off the table before the new year sets in. Bitcoin, it seems, is a little delayed in these traditional asset patterns, and it’s correction has taken few days longer than we might have expected.....