Receive all Cointelegraph news immediately in Telegram.
After a sharp drop, Bitcoin has reached a key point, from where the medium-term trend could continue. What is necessary for that continuation?
The short-term downward trend was just a correction towards the upward trend. That’s why there was a rebound and the upward trend still has momentum.
For the upward trend scenario to become as likely as possible, two things need to happen. First, Bitcoin’s price has to fortify at the level of $450 and form a turn. Second, the market has to avoid a downward scenario with a fortification and a turn at the level of $446. Otherwise, the upward structure will be disrupted and the corresponding trend will become unlikely.
The upward trend will most likely continue, if Bitcoin’s price doesn’t form a downward turn at the level of $446.
Follow us on Facebook
For updates and exclusive offers, enter your e-mail below.
Thank you for contacting us! We will reply to you as soon as possible.
Thank you for your interest in our franchise program.
We are considering your request and will contact you in due course. If you have any further queries, please contact: