Bitcoin restores positions

After a three-day correction, the bitcoin price is trying to restore the upward movement. The main support for both the bitcoin and the entire market is the optimistic sentiments of investors, against the background of signals about softening of the regulators’ positions with regard to the tightening of trade in crypto currency.

Technical analysis: At the beginning of today’s trading, Bitcoin’s price dropped to almost $ 9 400.00, which corresponds to the level of 38.2 Fibonacci on H1, after which the price of crypto currency exceeded $ 10,000.00. At the moment, there is still the possibility of continuing the correction to $ 9,000.00. In case the price of the crypto currency will grow and fix above the $ 10 250.00 mark, one should expect its further growth to $ 11 000.00, $ 11 600.00.

Fig. BTC/USD. Current price is $ 10,038.810

Alexander Sivtsov