On December 13, the price of Bitcoin rose again above $19,300 after a correction to $17,000.
According to analystsCointelegraph, a technical analysis of the movement of bitcoin suggests that bitcoin has reached the bottom in the near future at $17,000.Warrants on the exchanges show that whales are buying up about $17,600.
Ордер бук Bitfinex BTC/USDT. Source: TradingLite
The rebound from $17,600 is extremely positiveindicator as a new higher low formed on the 4-hour chart. This means that the bottom of this correction is significantly higher than the bottom of the previous correction – This trend is observed during bull runs.
The following targets for bitcoin
In the near future it is worth taking into accounttwo factors. The first – selling pressure is still relatively strong. Second – Bitcoin price will have to test the new all-time high set on November 30.
There is a consensus that the pressure of sellers will ease in the near future, as most miners and whales have sold off their stocks this week.In other words, a rollback of $17,000 was an expected correction, and a bullish race couldContinue.
The probability of reaching a new historical maximum will increase significantly if bitcoin canto gain above $19,400.
Subscribe to ForkNews in Telegram to be the first to know the latest news from the world of cryptocurrencies
Based on materialscointelegraph.com
Read this:
Bitcoin reached $ 8,000, less than two weeks left before halving
Bitcoin rate reaches new historical high of $19865
Bitcoin's price drops below $ 9,000, pulling the rest of the market
Ethereum price breaks $600
Bitcoin price broke through $ 16,000
A trader said whether the price of bitcoin could again fall below $ 7,000