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The analyst called the condition for the completion of the bitcoin correction :: RBC.Crypto

To exit the “sideways” movement of the first cryptocurrency, it is necessary to overcome two important resistance levels, says Michael van de Poppe

The opinions of experts may not coincide with the position of the editorial board. RBC-Crypto does not provide investment advice, the material is published for informational purposes only. Cryptocurrency is a volatile asset that can lead to financial losses.

Trader Michael van de Poppe considersthat in order to exit the correction phase, Bitcoin needs to overcome an important resistance zone around $ 49.4 thousand. The next important resistance level is at $ 51.8 thousand, the analyst said. The cryptocurrency cannot overcome this level for more than a month.

According to van de Poppe, the bitcoin price will not fall below $ 45 thousand, since this level is the “bottom” of the current correction.

On January 5, Bitcoin is trading at $ 46.7 thousand. Over the week, the cryptocurrency has fallen in price by almost 2%, and its capitalization has decreased to $ 885 billion, according to CoinGecko. On December 4, the price of an asset per day decreased by more than 20%, to $ 42 thousand. On November 10, Bitcoin updated its historical maximum above $ 69 thousand.

Goldman Sachs predicted bitcoin price rise to $ 100 thousand

– SILV token rate fell by 99% due to hacking

– More than 2500% growth. The most expensive tokens of the week

You can find more news about cryptocurrencies in our telegram channel RBC-Crypto.

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