What to expect the bank next, commented Ryy Mazur, head of data analysis at CEX. IO Broker
On Bitcoin has now dropped to $18,000 - that is, adjusted by almost $2,000reached earlier this year's highs.
It is too early to talk about investors' commitment to the negative development of events in the crypto market.From a technical point of view, both positive and negative scenarios are equally likely.What matters is how bitcoin closes at the end of this week.If it stabilizes in the region of $18,000-19,000, it will most likely need to beHowever, BTC/USD will still beis inclined to decline and the probability of a further fall in quotations will increase slightly.
If the BTC/USD rate at the end of the week is near current or lower - in the region of $17,000-18,000 - then in fact we can talk about a further, more significant correction to the mark of $15,000 or lower - in the area of $13,000.
The resumption of the bullish trend is possible only if the BTC/USD quotes are returned to the area of $19,800-20,000.At the same time, it is critical that bitcoin can hold these levels at a week-long close.When a positive scenario is triggered, it is likely that the main cryptocurrency will grow to the values of $23,000-25,000.
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