Bitcoin remains in the correction stage

After growth for 2.5 weeks, the price of the most popular crypto currency of the world went down, which is mainly due to profit-taking by investors, since there are no significant fundamental factors that could lead to a decrease in the price of crypto currency. It should also be noted that the market continues to grow interest in digital currencies, which is confirmed by the intention of Nasdaq to create its own crypto exchange.

Technical analysis: Bitcoin’s price was fixed below the support line of the rising channel on H1, but still remains in the region of support range $ 8,750.00- $ 8,500.00. In case of further price reduction and its consolidation below $ 8,500.00, one should expect further price reduction to $ 8,250.00, $ 8,000.00.

Fig. BTC/USD. The current price is $ 8,767.820.

Alexander Sivtsov