We have reached the maximum price point, the Bitcoin correction is now more than healthy.
The first levels of Fibonacci retracement indicate that the price of the digital currency, on the daily chart, is still very stretched. A Bitcoin correction, at least in $ 17,500 is needed to cool the engine.
The analyst who speaks to you does not believe in a new touch at ATH, although the price remains close, around $ 19k.
“We need a stronger correction to take a breath.”
Despite having many big players entering the market at the moment. It is difficult to cool this buying force. But graphically speaking, there is a bullish anomaly.
If it retracts, at least, in the first levels of fibo, we can have a new explosion of high that can still coincide with the effective arrival of the vaccine against Covid-19.
And what are the Bitcoin Correction points?
- $ 17120 first point – $ 17530 fibo minimum
- Second point $ 15830
- Third point to range between $ 13200 and 13830
Furthermore, if it is more, we may start to see a trend reversal.
So, what do you think will happen to cryptocurrency this year?
Leave it here in the comments.