The correction of Bitcoin continues, which, although surprising, looks quite logical. In a market where there is no information on the fundamental causes of growth or decline, emotions will prevail, rather than common sense. And this means that any profit-taking, correction, mass sale or purchase will have a much greater depth and scale than traditional financial instruments. Nevertheless, even mass hysteria ends sooner or later. Especially when it comes to exchanging instruments. They have psychological levels and given the high volatility and huge cost of Bitcoin, it's not hundreds of dollars, but thousands. So it is worth learning this lesson.
So, coming close to 4,000 dollars for Bitcoin, the market participants are tilted to exactly this psychological level. After that, everyone will think that he has fallen quite cheap, and will again start making purchases. The mark of 5,000 dollars has already been tested, after which the profit took place, as it was then considered too high. Now, the psychological maximum will obviously move to the level of 6,000 dollars where we will gradually move.
Technical picture
At the moment, the quotation rested at the level of 4000, forming as a fact a deceleration within the Fibo levels. Probably, we will see the drawing of a temporary stagnation in the borders of 4000/4250, where traders will be able to prepare for the next long position. In the case of a coincidence of the forecast, you can consider the mark of 4300 for pawning the first batch of trading positions for purchase, with the prospect of moving to 4420 and further refilling to 5000.
In case the stagnation is delayed and the "bearish" interest does not fall, it is possible to expect further correction formation, 3750/3600.
Attention: Forecasts are not a direct guide to action!
