➡️ Bitcoin is ending the week in retreat, trading at 48.518$ at the time of writing this forecast for next week. The capitalization of the leading digital currency has fallen over the past seven days by more than 15% to 902.5$ billion. ❗️ By the way, the previous forecast, namely a small BUY-position to the resistance line, fully worked out in a plus👇 ❗️ And in the same forecast, it was said about SELL after this small BUY-position👇
For the coming week, the cryptocurrency mood remains the same, namely bearish . However, there is a potential for recovery to the level of 51981.85$ and even its breakout upwards, after which the price would return, as expected. The supposed movement is shown on the chart. The target of the fall for the coming week will be the support level of 43394.75$.
In general, the entire crypto market today also plunged into the red zone amid sales that resumed after hearings in Congress on the regulation of the blockchain industry. ETHUSD fell to 4058$, BNBUSD and ADAUSD retreated more than 3% to 574$ and 1.24$, respectively. ❗️ By the way, there are also trading ideas for the listed cryptocurrencies👇
According to Stack Funds analyst Matthew Dibba, investors began to sell digital assets after the completion of negotiations in Congress between the House of Representatives finance committee and the crypto business. The companies called on the authorities to accelerate the legalization of the industry and create a comfortable environment for startups. But no specific decisions were made following the hearings, which caused uncertainty in the camp of traders. Restrictive measures in the fight against the new strain of COVID-19 are also alarming investors in some way.
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