Small Correction of the Falling
The last day was not successful for Bitcoin: its price fell from $11,750 to $11,100, which means the fall was about 6%. Now the rate has slightly adjusted and at the moment Bitcoin is trading at level $11,350. Trading volume in connection with this event has increased slightly and amounts to $26 billion.
Earlier, we have already warned that we are waiting for the first cryptocurrency to decline to $11,000 and our guesses became correct. However, we believe that this is only the beginning. Now a new drop in Bitcoin can happen up to $10,000.
However, this is not worth waiting for in the next 2 days. On the hourly timeframe, you can clearly see that many indicators, such as the RSI, were in the oversold zone as a result of the fall. Therefore, in the next couple of days they will try to win back this falling.
MACD is already showing a confident reversal and should continue upward movement further.
The price chart first was for a long time near the lower Bollinger band, and now it is testing the average line. With a high degree of probability, the price will go to the upper border of the indicator.
After such a decline, a small correction usually occurs, which is already happening now. In the next 1-2 days, the price may reach $11,600.
Earlier, we have already warned that we are waiting for the first cryptocurrency to decline to $11,000 and our guesses became correct. However, we believe that this is only the beginning. Now a new drop in Bitcoin can happen up to $10,000.
However, this is not worth waiting for in the next 2 days. On the hourly timeframe, you can clearly see that many indicators, such as the RSI, were in the oversold zone as a result of the fall. Therefore, in the next couple of days they will try to win back this falling.
MACD is already showing a confident reversal and should continue upward movement further.
The price chart first was for a long time near the lower Bollinger band, and now it is testing the average line. With a high degree of probability, the price will go to the upper border of the indicator.
After such a decline, a small correction usually occurs, which is already happening now. In the next 1-2 days, the price may reach $11,600.
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