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To exit the “sideways” movement of the first cryptocurrency, it is necessary to overcome two important resistance levels, says Michael van de Poppe
The opinions of experts may not coincide with the position of the editorial board. RBC-Crypto does not provide investment advice, the material is published for informational purposes only. Cryptocurrency is a volatile asset that can lead to financial losses.
Trader Michael van de Poppe believes that in order to exit the correction phase, Bitcoin needs to overcome an important resistance zone around $ 49.4 thousand. The next important resistance level is at around $ 51.8 thousand, the analyst said. The cryptocurrency cannot overcome this level for more than a month.
According to van de Poppe, the bitcoin price will not fall below $ 45 thousand, since this level is the “bottom” of the current correction.
On January 5, Bitcoin is trading at $ 46.7 thousand. Over the week, the cryptocurrency has fallen in price by almost 2%, and its capitalization has decreased to $ 885 billion, according to CoinGecko. On December 4, the price of an asset per day decreased by more than 20%, to $ 42 thousand. On November 10, Bitcoin updated its historical maximum above $ 69 thousand.
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