CRYPTO NEWS - Rebound or End of Correction? Why Bitcoin Surpassed $49,000
CRYPTO NEWS - Rebound or End of Correction? Why Bitcoin Surpassed $49,000
00:05 Intro
00:48 Crypto News
01:17 Bitcoin News
02:32 Ethereum News
03:15 Bitcoin Technical Analysys
04:40 Ethereum Technical Analysys
05:01 Crypto Market News
06:36 Outro
False breakout
The current "bullish" momentum did break through the local downtrend for bitcoin, says Bestchange.ru senior analyst Nikita Zuborev. However, according to him, it does not guarantee the end of the downtrend.
"As long as there was no confident fixation with a large natrading volume above $48 thousand, the pullback remains real, and the trend breakdown may be false. Now the price is in a very uncertain position", - explained the analyst.
Zuborev considers that the most probable scenario in current conditions is a rollback to the level of $44.5-45 thousand, with a further drop to the area of $42 thousand in early January. After that, the market may experience events that will provoke a sharp change in the trend and the return of bitcoin to growth, Zuborev admitted.
Condition for growth
A clear signal for the recovery of bitcoin prices is a breakthrough and the fixing of the asset above the level of $55 thousand, said CEO of cryptocurrency exchange EXMO Sergei Zhdanov. In his opinion, as long as this has not happened, it is not worth talking about the exit from the correction.
"As for the "bottom" - I think that many regard the level of $40 thousand as an opportunity to buy, which means that we can push off from it and go up," predicted Zhdanov.
Taking into account the current dynamics of bitcoin until the end of the year, there is still a chance of a breakthrough of the level of $55 thousand, the expert added.
00:05 Intro
00:48 Crypto News
01:17 Bitcoin News
02:32 Ethereum News
03:15 Bitcoin Technical Analysys
04:40 Ethereum Technical Analysys
05:01 Crypto Market News
06:36 Outro
False breakout
The current "bullish" momentum did break through the local downtrend for bitcoin, says Bestchange.ru senior analyst Nikita Zuborev. However, according to him, it does not guarantee the end of the downtrend.
"As long as there was no confident fixation with a large natrading volume above $48 thousand, the pullback remains real, and the trend breakdown may be false. Now the price is in a very uncertain position", - explained the analyst.
Zuborev considers that the most probable scenario in current conditions is a rollback to the level of $44.5-45 thousand, with a further drop to the area of $42 thousand in early January. After that, the market may experience events that will provoke a sharp change in the trend and the return of bitcoin to growth, Zuborev admitted.
Condition for growth
A clear signal for the recovery of bitcoin prices is a breakthrough and the fixing of the asset above the level of $55 thousand, said CEO of cryptocurrency exchange EXMO Sergei Zhdanov. In his opinion, as long as this has not happened, it is not worth talking about the exit from the correction.
"As for the "bottom" - I think that many regard the level of $40 thousand as an opportunity to buy, which means that we can push off from it and go up," predicted Zhdanov.
Taking into account the current dynamics of bitcoin until the end of the year, there is still a chance of a breakthrough of the level of $55 thousand, the expert added.
