BTC price bounces back from all-time high

BTC price bounces back from all-time high – correction to $14,000 coming?
Bitcoin yesterday again bounced off the strong resistance along the $19,888 mark and was unable to reach a new all-time high.
Experts in the industry are nevertheless optimistic and expect a new all-time high in the coming days.

After a strong bull run by Bitcoin in recent weeks, BTC yesterday again bounced off the former all-time high and strong resistance at $19,888. A brief correction followed, with Bitcoin falling to $18,000, but recovering to $18,866 at the time of writing. Within the last 24 hours, the Bitcoin price has fallen 2.73%. The market capitalization stands at $349.63 billion.

BTC price bounces back

The underlying sentiment remains bullish despite the correction. Analyst Josh Rager on Twitter said Bitcoin has potential to hit the  $20,000 mark in the coming days. For this level to be established as a new support its important that Bitcoin closes above  $18,100 on daily chart.

Trader “HornHairs” also predicts that Bitcoin will soon reach a new all-time high. In his opinion, the fundamentals suggest some whales have taken profits, but the long-term trend is towards a new all-time high. Nevertheless, traders should be cautious as a correction to as much as $17,000 is possible.

Il Capo fo Crypto” points out on Twitter that many whales on Coinbase accumulate their positions, caution is advised. Nevertheless, he thinks that the correction is over, which is why he himself has bought more BTC. If another correction follows, he will increase his position again.

BitMEX liquidates some long positions last night. Bitcoin analyst and trader “SalsaTekila” explained to his followers that big whales use this opportunity to make short-term profits and place “fake sell orders”, only to immediately re-enter the BTC at a lower price. Thus the “weak hands” shakes out of the market, while the big whales profit from the current uncertainty:

Leave a Reply

Your email address will not be published. Required fields are marked *