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Bitcoin is trading again above $30,000 after falling as low as $25,000. Short-term trend remains bearish as price continues making lower lows and lower highs. Price has retraced more than the 61.8% of the entire upward move but price remains above the 61.8% level.
On a monthly basis staying above $26,000 is very important. Respecting the 61.8% Fibonacci retracement is key. At 61.8% retracement levels we usually see trend reversals. It is too early to call a major low for Bitcoin, but we are certainly at a price junction where such a reversal is possible. Traders need to pay close attention to shorter term time frames to try and identify the reversal sooner. As long as price is below $40,000 we are pretty sure that bears will remain in control of the trend.
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.
