Bitcoin (BTC), the world's largest cryptocurrency, and many altcoins started the day with huge declines. So will the BTC price make the expected correction move and fall to the level of 38 thousand dollars?
The cryptocurrency market and Bitcoin price continue to make investors nervous, closing the day under the downtrend for the first time in days. In the absence of developments that will positively affect the markets and the BTC price, the expected $38,200 correction is causing concern in the market. In this context, BTC's situation is still uncertain.
The weekly closing price for Bitcoin was around $41,000. However, it is observed that a positive momentum has not yet been achieved. Despite holding above $40,000, uncertainty remains in the market. If we can maintain this level, Bitcoin has the potential to start rising again. However, it should be emphasized that caution should be exercised and the uncertainty of direction in the market continues.
The $41,230 and $42,000 levels are the main resistance points for Bitcoin. Breaching these levels could signal the beginning of a positive momentum.
40,735 dollars and 39,400 dollars seem to be Bitcoin's strong support points. In case of a decline below these levels, the $ 38,200 correction may come to the agenda.
