Bitcoin (BTC), which started to retreat after failing to settle above 38 thousand dollars, frightened investors by dropping a needle to 36 thousand 720 dollars.
BTC, which continued its positive trend with the ETF news coming one after the other, withdrew when it could not maintain permanence above $ 38,000. The leader of the cryptocurrencies, which has been slowly moving downwards since $ 38,424, has reached $ 36,720 twice as of yesterday. Can BTC, which has found support at these levels for now, take action again? Which price zones should be considered for BTC?
Buyers need to take the reins again!
BTC, which has not yet made a new peak after testing $ 38,424, must exceed this level in order to continue its rise. The pioneer of cryptocurrencies, which is currently traded at $ 37,055, will first target $ 37,347, then $ 37,970 – 38,424 and $ 38,935, respectively, in the scenario where things go positive. The last peak price of the short term, $ 38,424, may be a deciding factor for the price structure.
Situations such as negative developments regarding ETFs or prices below $ 37,347 will strengthen the hands of sellers. In such a scenario, declines up to 36,520 – 35,879 – 35,293 and 34,817 dollars can be followed, respectively. The $36,520 level, which has frequently acted as support recently, will play a critical role.
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