On Sunday evening, the Bitcoin exchange rate rebounded from the level of $ 8410 and has since continued to grow, which indicates the protection of this level of support and the weakening pressure from sellers.
After several unsuccessful attempts to storm the mark$10.5 thousand, the price of BTC began to fall rapidly amid the retreat of the bulls and the general decline in stock markets due to the spread of coronavirus. Rising risk levels prompted investors to rush out of their current positions to avoid further losses.
Last week the situation graduallystabilized and short-term downwardthe trend was broken by a Doji candlestick indicating a bearish exhaustion. However, to confirm the reversal, a close above $ 8750 will be required, after which one can expect attempts to storm the level of $ 9.5 thousand.
In the event of a resumption of recession and breakdown of the level of $ 8410, bitcoin may continue to fall up to $ 8 thousand.
At the time of publication, the BTC exchange rate is $8,784.
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