Bitcoin price fell by
nearly 11% on the daily frame to $ 38,514, putting in front of us an important
demand area extending from $ 37,412 to $ 39,727, and that range is below the
200-day moving average, but do not forget that the area extending between $
37,412 to $ 39,727 is the same area that gained Bitcoin had the momentum needed
to rise to its highest levels and pushed it up to $ 40,000 and then nearly $
60,000.
Therefore, calm buyers
can take the opportunity to get the leading cryptocurrency at a low price,
especially since a correction for the downside wave towards 45700 can be
expected, a correction that will be appropriate to lure more buyers to enter at
that point.
If this scenario is
achieved, Bitcoin will quickly return to the levels of 51572 before trying to
compensate for the past losses and may re-target 60,000 in the medium term.
But if buyers abandon
Bitcoin and the panic scenario of a Bitcoin crash realizes, Bitcoin may head to
at least 34245 levels before gaining a new upside momentum.
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