Dec 29, · Bitcoin is ready to create a top and start a deep correction. A move above $26, may allow for another bullish wave. Bitcoin (BTC) may be well-positioned for a . Dec 16, · Data shows that Bitcoin typically corrects 37% on average in bull markets, which would line up with such targets. On the most extreme end of any downside, $11, could be the reversal point. But a retest of $13, appears to be highly probable, despite the asset’s ongoing rally. Dec 28, · A downside correction in the Bitcoin market at the beginning of this week may prepare a fresh run-up towards $30,, says Teddy Cleps. The independent market analyst tweeted a technically bullish set up on Monday, projecting the Bitcoin price in a trend continuation pattern.
Bitcoin correction priceBitcoin Latest Correction Prepares Ground for $30K Test: Analyst - gasthausamflughafen.de
They are an inherent part of a market cycle of any asset class, and cryptocurrencies are no exception here. Bull trends are not developed in a straight line. Instead, they develop in ebbs and flows, making the movement more sustainable and healthy. Bitcoin's price more than doubled in less than three months, meaning that the market is ripe for a correction. According to the social sentiment tracking data compiled by a behavioral analytical company Santiment, Bitcoin is close to FOMO levels, but not to the degree when the price usually tops.
Our social sentiment tracking for crypto Twitter shows Bitcoin sentiment is positive, but not euphoric to the degree where price tops are imminent. Greed levels like in mid-May or late November levels are when price corrections tend to occur.
It means that Bitcoin's correction is imminent; however, the price may attempt another rally before the sell-off starts for real. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. The soonest is February, where the deep-V short-term bottom was set back in , acted as the final retest of bear market lows, and was the peak just prior to the Black Thursday collapse.
Next is April, which has been a strong bullish marker for four years running. Other Gann tools that could assist with timing, might also shed some light on what happens next. One thing he did leave behind, was at least some proof of cyclicality in commodities markets around December, living on his Wikipedia page.
Bullish investors might balk at the idea of such a large correction from here or that such pivot points exist. Could you be next big winner? I consent to my submitted data being collected and stored. Bitcoin saw some wild overnight volatility that came about after a flurry of selling activity liquidated long positions and sent its price reeling lower This selloff was quite intense All Rights Reserved.