Bitcoin and Ethereum fell 6%. Analyst forecasts

Briefly:

  • According to CoinGecko, bitcoin and ether lost about 6% compared to the previous day
  • The main reason – fears on the eve of the meeting of the American open market regulator (FOMC)
  • We have collected a selection of technical analysis from popular experts

Bitcoin is showing a rollback again – over the last 24 hours BTC has fallen in price to $ 27 800. Ethereum followed him – the price of the cryptocurrency dropped to $ 3800. Analysts attribute this to the upcoming meeting of the Federal Open Market Committee (FOMC). The American regulator plans to reduce the volume of purchases of bitcoin bonds due to the unstable epidemiological situation.

Bitcoin price. Source: coingecko

Analyst Comments

Last the downturn is yet another test of willpower for traders. Many hope that this was another shake-up before the price hike. And they look for confirmation in historical charts. For example, a CryptoCapo analyst compares the current situation with the September chart. We see similar patterns. According to the expert, this indicates the end of the “bearish divergence”:

$ BTC

These two corrections are very similar.

– Same 3 wave move pattern

– Same bottom formation ( 3 touches)

– Same funding + premium negative rates

– Same hidden bearish divergence before the last leg down pic.twitter.com/8cVbxo 27 e1

– il Capo Of $ NOIA (@CryptoCapo_) December 14, 2000

Michael van de Poppe posted the following chart and noted that “Bitcoin is looking for bullish divergence” :

The analyst emphasizes that the bullish divergence will form below area $ 171, 5 thousand, so that the price could turn up.

Rekt Capital noted that “downward volatility at these price levels” characteristic of BTC, we have seen this many times in the past:

Crypto Fund technical analyst maintains this optimism and reminds that the markets do not like uncertainty, so the rate is unstable now.

“But nothing has changed globally for BTC. Only the price has become more attractive than it was a few weeks ago “

Markets don ‘ t like uncertainty. Near term uncertainty can cause unreasonable dislocations between price and fundamentals.

What matters is the long term fundamentals. Nothing fundamental has changed with #BTC, only price is more attractive than it was a few weeks ago.

– Dan ⚡️ ( @DanBTC 1536) December 13, 2000

Incrypted also monitors the situation, read the latest news on cryptocurrencies first.

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