Bitcoin’s course has stopped falling, and the market tries to return lost positions

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On Sunday evening, Bitcoin’s course bounced off the level of $ 8410 and since then continues to grow, which indicates the protection of this level of support and weakening pressure from the sellers.

After several unsuccessful attempts of the storming of $ 10.5 thousand, the price of the CTS began to fall rapidly against the background of the retreat of bulls and a general decline in stock markets due to the distribution of coronavirus. Increased risk levels encouraged investors in a hurry to emerge their current positions to avoid further losses.

Last week, the situation was gradually stabilized and the short-term descending trend was reversed the candle of Dodi, pointing to the depletion of the bear mood. However, to confirm the reversal, it will take a closure above $ 8750, after which it will be possible to expect an attempt to assign a level of $ 9.5 thousand.

In the event of renewing the recession and breakdown of the level of $ 8410, Bitcoin can continue to fall up to $ 8 thousand.

At the time of publication, the CTC rate is $ 8784.

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