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 MTC began to fall rapidly amid bull retreat and a general decline in stock markets due to the spread of coronavirus. The increase in the level of risks encouraged investors to rush out of their current positions in order to avoid further losses.
Last week the situation is gradually stabilized 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 MTC rate is $ 8784.</p>