Bitcoin Reclaims $36,000 After Falling to a Low of $30,000

2021-5-19 18:09

The Bitcoin (BTC) price decreased significantly on May 19, falling to a low of $30,000.

However, it has bounced considerably since the lows, drawing comparisons to the recovery that transpired on March 2020.

Bitcoin drops to $30,000

BTC decreased considerably today, falling to a low of $30,000. This validated the $30,000 area as support, a level that previously had not been reaching since January 2020. 

It has bounced since, creating a lower wick with a magnitude of 22.76%. Currently, it is attempting to reclaim the 0.5 Fib retracement support level at $34,375. Doing so would be an extremely bullish development, leaving a long lower wick in place.

However, there are slightly more than nine hours left until the daily candlestick closes.

Chart By TradingView Previous BTC corrections

Cryptocurrency trader @damskotrades outlined a BTC chart that showed the previous correction, which occurred in September 2020. It amounted to a drop of 40%.

Source: Twitter

With the low of $30,000, the current correction amounted to a drop of 53.74%. This decrease has transpired in 35 days. 

The correction most similar to it in both magnitude and length was that in March 2020, when BTC decreased by 64% in 28 days. This led to a low of $3,782. What followed afterwards was a V-shaped recovery that led to the current bull run. 

While the December 2017 correction was similar in length (70), it took 56 days to transpire. Therefore, the current correction is more similar to that on March 2020 than that of December 2017.

Chart By TradingView

To conclude, the current BTC correction is very similar to that which occurred in March 2020, which led to the bottom of $3,782. 

The recovery could follow a similar path if the price manages to close above the 0.5 Fib retracement level at $34,375.

For BeInCrypto’s latest bitcoin (BTC) analysis, click here.

The post Bitcoin Reclaims $36,000 After Falling to a Low of $30,000 appeared first on BeInCrypto.

origin »

Bitcoin (BTC) на Currencies.ru

$ 101561.38 (+1.71%)
Объем 24H $116.225b
Изменеия 24h: 3.02 %, 7d: 2.14 %
Cегодня L: $92791.64 - H: $101561.38
Капитализация $2012.873b Rank 1
Цена в час новости $ 38724.68 (162.27%)

bitcoin low reclaims falling march transpired 2020

Источник: beincrypto.com

bitcoin low → Результатов: 126


Bitcoin’s correlation with gold sinks to two-year low, a warning for investors

Key Takeaways Bitcoin’s correlation with gold is at a two-year low Divergence highlights yet again that Bitcoin remains a risk-on asset This may change in the future, but for now, Bitcoin resides on the long-end of the risk spectrum  With full effects of tight monetary policy still to come, market should not get ahead of […] The post Bitcoin’s correlation with gold sinks to two-year low, a warning for investors appeared first on CoinJournal.

2023-7-20 12:21


Bitcoin Drops Under $18,000, How Low Can We Go?

Continuing from yesterday’s losses, Bitcoin is back on a decline today. Going as low as $17,640, there has been a difference of $10 to $50 in BTC prices on different cryptocurrency exchanges. “We reached the current level for BTCUSD on November 18th and have consolidated to the point where the middle band has caught up […] The post Bitcoin Drops Under ,000, How Low Can We Go? first appeared on BitcoinExchangeGuide.

2020-12-9 16:09


Фото:

Bitcoin Dips Below $4K to 1-Year Low, What’s Next?

Bitcoin used to show little correlation with traditional assets, but the worst day for the US and European stock markets in three decades turned into one of the worst days for the crypto space. Bitcoin Plummets to $3,858 on Coinbase On Friday morning, many crypto exchanges saw Bitcoin tumbling to a daily low at around $3,800, after which it quickly returned to above $4,000.

2020-3-14 12:26


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

13% of Crypto Hedge Funds Have Closed in 2023 Despite Bitcoin Climbing 75%

Compared to Bitcoin, cypto hedge funds have underperformed in 2023. against this backdrop, investors have lost confidence and 13% of funds shuttered since the begining of the year. The post 13% of Crypto Hedge Funds Have Closed in 2023 Despite Bitcoin Climbing 75% appeared first on BeInCrypto.

Upbit Exchange Outperforms Coinbase and OKX in July

Korean exchange Upbit records $29.8 billion in spot trading volumes as it benefits from superior regulation compared to US exchanges. The post Upbit Exchange Outperforms Coinbase and OKX in July appeared first on BeInCrypto.