Yesterday, the cryptocurrency market entered the green zone again. Against the background of the improving situation in the American stock market, investors supported digital assets as well.
The BTC/USD pair managed to climb above the levels of 35000 and 36000. It peaked at $36623. However, the pair failed to rise higher. As a result, today BTC/USD is showing a correction and is trading around 34700. Despite this decline, the price of BTC remains above the weekend level.
This time, Bitcoin was able to get strong support in the area just above $30000. Bitcoin is trading above the psychological level of $30000, which means it has every chance to resume growth, as, in the short term, the forecast for Bitcoin remains neutral.
Analysts believe that investors who bought Bitcoin at prices ranging from $31700 to $33500 will try to help Bitcoin rise. Only in this case, this category of investors will be able to recoup.
According to Glassnode, in the past week, many investors have been selling cryptocurrency in panic. We saw a sell-off, which resulted in losses of BTC holders exceeding $3,45 billion.
This week, analysts predict a stabilization of the situation, but a breakthrough will not occur. BTC will be just below or just above $35000. This is an important psychological mark that many traders are guided by when choosing tactics. Bitcoin has the important task of staying above $35000 in order to maintain a good chance of hitting the psychological level of $40000.