After all the scandals with the restrictions of cryptocurrency in China, bitcoin collapsed below $3000 and it seems that it has found a bottom. As expected, as soon as the adverse information was released, bitcoin began to grow again. Despite the fact that the scale of the fall of bitcoin proves that the fears of monetary authorities regarding cryptocurrency are quite justified, bitcoin still grew after the fall. It is about their potential use for laundering proceeds from crime. After all, it was worthwhile to introduce only insignificant restrictions, as the price rushed swiftly downward. It's more like a getaway. And all sorts of criminals are able to run away very quickly, especially in the financial sphere. However, the belief in cryptocurrency is still very strong. In fact, if in the near future the information background will not become negative again, the price will continue to go up.
Technical picture
As previously discussed, bitcoin took the target to the range support level of 2850, where, as a fact, it felt the support. This gave an opportunity for the "bulls" to return to the market. Now, we already won back more than $ 900, and this is not the limit. We can probably assume that after fixing the price above 3900, we will quickly reach the value of 4000, where a fleeting regrouping and further movement to 4300/4420 is possible.
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