Bitcoin is in the correction phase. BitcoinCash is regaining positions

At the beginning of the Asian trading, the price of the most popular cryptocurrency updated its historical maximum to around $ 17,144.00, but then fell sharply, losing more than $ 3,000.00 in price, which was caused by profit-taking and correction of positions in the crypto currency. The growth was mainly caused by the expectation of launching trading in bitcoin futures on the site of ITS Global Markets on December 10.

Technical Analysis: After a sharp decline in the price, bitcoin has receded from the session minimum, having played back about 40% of losses. In case of re-correction, support levels are considered at $ 14,100.00; $ 13 500.00. If the price increases and fixes above $ 15,800.00, one should expect a retest of the maximum at $ 17,144.00.

Fig. BTC/USD. The current price is $ 14,876.00.

BitcoinCash, due to a decline in the price of classic bitcoin, is regaining its position, after declining for two sessions in a row. This dynamics of BitcoinCash and classical bitcoin perfectly reflects their inverse correlation, which can be used when trading with these tools.

Technical analysis: The price of the crypto currency is moving in a wide flat in the medium term. The main support levels are $ 1,300.00; $ 1150.00. Resistance levels are considered at $ 1600.00; $ 1750.00.

Fig. BCH/USD. The current price is $ 1469,818.

Alexander Sivtsov