Bitcoin switched to correction

The price of Bitcoin moved to a decrease at the closing of trading on Tuesday, which is more due to the partial fixation of profits on long positions, after almost two-week rise in the price of the crypto currency. In turn, the market of crypto currency is optimistic, after South Korea has softened its tone regarding the trade in crypto currency in the country.

Technical analysis: Bitcoin’s price keeps uptrend in the short term, while support at $ 10 600.00 has already proved itself, keeping the price of crypto currency lower. At the moment, the significant level of support at $ 10 250.00, which corresponds to the first correctional level of Fibonacci 23.6 on the chart of H4.

The main recommendations: Purshases should be considered at $ 10 250.00 with a growth potential to $ 11 400.00, $ 11 700.00. In case the price is fixed below $ 10 250.00, one should expect its further decrease to $ 9 400.00.

Fig. BTC/USD. The current price is $ 10,852,090.

Alexander Sivtsov