Bitcoin is under pressure of correction. The potential for renewal of growth remains.

The price of the most popular crypto currency in the world is moving with a slight minus in the course of trading on Monday, marking at $ 9,228,170. Price of Bitcoin began to decline last Tuesday after reaching $ 11,629.470, while this decline was not supported by any fundamental factors, against which it is worth concluding that Bitcoin’s price has decreased against the background of technical factors and profit-taking by investors after more than two-week growth.

Technical analysis: Since last week, Bitcoin’s price has decreased by about 20%, which is quite normal for correction after a long period of growth, but it’s too early to finish it, as market participants expect new catalysts for the growth of the crypto currency.

At the moment, I consider the main support levels at $ 9,000.00, $ 8,760.00. If the growth resumes from the current positions and the price is fixed above $ 10 100.00, one should expect further price growth of the crypto currency to the levels of $ 10,750.00, $ 11,000.00.

Alexander Sivtsov