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BTC analysis – has the price reached the absolute bottom of the correction at $ 40,000?

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In the short term, BTC continues to grow slightly and has been reaching since the last high bottom wick more than a 10 percent appreciation. However, it should not be forgotten that the price is still in a corrective structure and within this structure both the lows and highs are declining. Still, it may be about bottom correction.

The last pull at the minimum was relatively strong, as evidenced by the high lower wick. In the short term, it is possible that the price will reach again zone around $ 47,000. If we want to think about reversing the trend, the price would have to exceed the last maximum, which is up to the surface $ 52,000.

BItcoin continues to grow slightlySource: TradingView

BTC continues to grow modestly

Even if the price reached the mentioned zone around $ 47,000 and respected it as resistance, the most important will then be created minimum at least $ 40,000. If we fall below $ 40,000, the correction will clearly be extended. In the long run, the correction is still common and current the growing cycle is not completed.

Long-term lows are getting higher and trend BTC remains bull. Nobody knows exactly when the correction will stop, but its strength is about 42%, which is normal. In the short term, we will mainly monitor whether there will be trend reversal. The price does not indicate it yet.

All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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