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Bitcoin price collapses by over 25% - is the bullrun over ?!

 


In our last Bitcoin price forecast , we wrote that the Bitcoin price could soon reach $ 80,000. But in the last few days the course has been corrected by over 25%, to be precise by 28%. The current low is $ 41,634 on the Bitfinex exchange . Today we will enlighten you about the Bitcoin course and explain how it could go on with the course.

If you look at the Bitcoin price in the larger chart image, you can see that the price has used an important support zone as support today. This support is between $ 40,000 and $ 41,500. At the time, this area served as a strong resistance. It has now served as support twice, including today's price action, which is bullish. As long as we hold the support zone between $ 40,000 and $ 41,500, we see nothing to be concerned about. Should we break the $ 40,000, which we don't expect, the price could quickly plummet to $ 35,000. The second target we would then see is $ 30,000. $ 35,000 would just be an intermediate goal.

Next we expect an increase towards $ 51,500- $ 52,500. This is a former support zone. This also served as resistance as the price climbed to its current all-time high of $ 68,958. After the price has reached the zone, the Bitcoin price could drop to $ 48,300 in order to experience a small consolidation phase in order for the price to stabilize somewhat. Should the course break the $ 52,500 mark, we will again assume the $ 60,000 mark. However, a new Bitcoin course article awaits you until then, where we will bring you up to date.

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