Impending Bitcoin’s Price Correction May Be Brief If This Key Trend Persist

Bitcoin’s price is undergoing a correction toward the long-term upward trend. For how long will this correction last, and at which point is the long-term upward trend most likely to continue? What has caused the start of this correction? One of the key long-term levels was near $760-80. A long-term downward trend has been forming along that price as far back as 2014. The price of $760-80 has become a key level. The placing of the correction level of the Fibonacci grid 38% has given more significance to that range. That’s why it could be called a historical maximum, which was later....

Bitcoin’s price is still undergoing a medium-term downward correction. A turn to growth didn’t happen, which means that there is a possibility of the price dropping to the next level. Where might the current correction end? Bitcoin’s price has not reached its top key level. After forming a micro-flat, it has continued its fall. Thus, a new resistance line has formed at $454. The length of the current correction depends on the moment when the advantage will go from the bears to the bulls. Bitcoin’s price has reached a key level at $445, and now there will be either a turn or a downward....

Bitcoin is still undergoing a correction towards the upward trend. Will that trend continue or should we expect a turn to decline followed by a sharp fall? At which point is the upward trend most likely to continue? Bitcoin’s current rebound may likely grow into a turnaround. The current price is profitable for the bulls. Thus, the reaction of the price at the current level will indicate with whom the advantage lies on the market. In order to break the structure of the correction and continue the upward trend, Bitcoin’s price has to enter a zone, which is profitable for the bears. $426 is....

Bitcoin has formed a flat above a key level. The probability of the movement continuing is increasing. The main trend is upward. The current upward trend has not been disrupted yet. Bitcoin’s price has formed a flat above the $518 resistance line. The resistance, which we have found earlier, has been confirmed several times already. These upward rebounds from $518 do confirm that there is a correction towards the upward trend. The market is nearing a resolution, as the probability of a new trend grows with a new wave of the flat. Bitcoin’s price reaching a new diagonal channel is also....

Bitcoin’s price still undergoes a correction towards the medium-term upward trend. The graph is fluctuating between the two key resistance lines, and one of them will be the point where the market will choose a new direction. Will there be a turn to decline? Bitcoin’s price has stopped near an important resistance of $424-25 which is responsible for the structure of the upward trend. That level is the most likely one for the price to turn to decline. For the upward trend to continue, there has to be a confirmation of bulls holding the advantage. The $430.5 resistance is where the largest....