Trader Crypto Michaël presented two scenarios, according to which the price of the first cryptocurrency is likely to follow in the near future.
$ BTC #BITCOIN & $ ETH #ETHEREUM
Still, basically two scenarios I’d be watching.
Holding $ 7,500-7,600 on $ BTC and we could look at $ 9,500.
Losing $ 7,500-7,600 and I feel we’re accelerating towards $ 5,800 or $ 6,400.Similar with $ ETH, losing $ 133 -> $ 100 on the table. pic.twitter.com/m9wR1lDsrf
– Crypto Michaël (@CryptoMichNL) January 10, 2020
According to an optimistic forecast, BTC will soon rise in price to $ 9,500, but for this, the price needs to stay on the support range of $ 7500-7600 for some time.
If bitcoin falls below this area, a pessimistic scenario will be implemented with an accelerated fall to the levels of $ 6400 and $ 5800.
With Ethereum, which closely correlates with bitcoin, the situation is similar: a failure below $ 133 will return the price to the psychological level of $ 100.
Analyst Coindesk Omkar Godbowle also considers $ 7555 a key level. The failure of the price below this mark should not be excluded, given the candlestick pattern The top on the daily chart – a sign of uncertainty.
Schedule BTC / USD TradingView Bitstamps
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However, Godbowl notes, the downward correction is accompanied by low trading volumes and may be short-lived. If the price manages to gain a foothold above the $ 8000 level, a local maximum retest around $ 8400 will not be long in coming.
The top ten most popular crypto assets currently looks like So:
The total market capitalization is $ 211 billion, the Bitcoin dominance index is 68.2%.
Recall a few days ago, several analysts expressed confidence in the continued rise in the price of bitcoin.
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