The Bitcoin market remains in a correction. However, not all analysts agree that the technical picture is synchronous with the traditional rollback. But, the volume shrinks, prices remain 40% below the yearly maximum, and ideal technical models for cryptocurrencies to be expected — capitalization of even the most basic coins is incomparable with Fiat currency and sensitive to manipulation.
Currently, prices of BTC found support at the 100-day MA, according to historical experience, can stay next to moving more than one week.
Therefore, further decline is not likely to take quotes of Bitcoin is too low — to the next area of interest from 7.8 to 8.4 thousand dollars.
Possible correction could take place in two scenarios:
However, the volatility of the cryptocurrency is capable of serious speeds. The more that a historical trend can survive the reduction to 4.3 without losing relevance.
Therefore, investors should not rely solely on the levels. You should wait until the volume decrease to values close to November 2018.
But find a bottom, according to our log Mining-Bitcoin, will continue only until the U.S. Federal reserve will not cut interest rates again.
The next meeting of the fed will happen in September, the 19th.
Officials there are mixed signals.
Meanwhile, volumes on futures CME — Chicago stock exchange, growing by leaps and bounds. The current average amount is 7237 contracts per day, which is 123% above the figures of the same period of the previous year and demonstrates the flow of money in the market as it has increased not only the contracts themselves, but their value.
And you what level of Bitcoin consider it suitable for purchase?
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