Bitcoin value needs to breathe before reaching new highs The size of the correction depends on two key support levels.

Expectations erupted earlier this week as the price of bitcoin and altcoins rose earlier this week as BTC fell below $ 43,000 on August 12. This has led some analysts to warn that last week's price movement was nothing more than a comeback.

The bulls worked hard to bring the price down to $ 45,000 after the morning sell-off, bringing the price of Bitcoin (BTC) down to $ 43,752, according to data from Cointelegraph Markets Pro and TradingView.

4 hour BTC / USDT chart. Source: TradingView

Here are our analysts on the current Bitcoin price and the near-term outlook. ,

Significant levels of support are US $ 43,600 and US $ 43,000.

According to market analyst and Cointelegraph contributor Michaël van de Poppe, Bitcoin's drop from $ 45,000 to $ 43,500 is "very good" and more charts show the difference, which means "More corrections will be adopted" .

Poppe valued $ 43,600 as "Level 1 Support" and $ 43,000 as "Level 2 Support" indicating that these are important items to watch for now.

In the near term, Poppe said the value of Bitcoin could fall back to $ 45,000 and then fall further, allowing for higher support levels.

Pope says:

“If those two levels of support are missing, you can see $ 42,000 next time if those don't get saved, then $ 41,000 later if they don't. $ 38,000, so I don't think I will continue.

Bulls breathe before pushing.

David Lifchitz, CEO and CIO of ExoAlpha, also viewed the Bitcoin price decline on Thursday as a move. As Lifchitz notes, "inflation is hardly affected over the past two weeks or more" "indicates that the cow needs to breathe before continuing to climb."

According to him, "$ 36,000 in BTC and $ 2,300 in Ether is a clear goal," he said, but "nobody knows how much we are getting now."

Lifchitz theory:

“However, it can be depressing before you reach that level. Of course, this is when there is no other regulatory force, otherwise there is a replenishment. Critics of Aether levels of $ 30,000 and $ 1,800 of BTC are not deducted. "

$ 45,200 has been a good level of support for Bitcoin in the past.

The price of $ 45,200 has been a tough level in the past, according to Twitter analyst Rekt Capital, pseudonym.

Unfortunately, #BTC failed to manage ~ $ 45,200. This means that $ BTC failed to re-measure ~ $ 45,200 (circled in red). Earlier this year, BTC was expected to rise in the amber zone. It is orange and BTC will reverse the crypto. pic.twitter.com/12NQaPysXF

- Rekt Capital (@rektcapital) August 12, 2021

When BTC previously traded near this level, the price tried again, maintaining support near $ 44,200, and then resumed.

Based on this analysis, if BTC can get closer to that level, the price will fall back and rise.

In almost 12 years, Bitcoin (BTC) has grown from a little-known experiment to a new class asset recognized by major financial communities. During this time, the value of Bitcoin has increased from $ 1 to $ 60,000.

Buyers are valuable at different stages of the process, and some users benefit from the rising price of Bitcoin. Given that Bitcoin is currently trading at tens of thousands of dollars per coin, is it too late to enter and benefit from BTC? Crypto traders on Twitter think so.

Overlord Moon said in a tweet on March 15, 2021: “TBH, I don't like Bitcoin anymore”. “We did,” he added, “yes, it's too late to buy now. Priced between US $ 500,000 and US $ 60,000. If you're a beginner or don't have much of money is when you look elsewhere. "

According to BraveNewCoin's Bitcoin Liquidity Index (BLX) on TradingView, people have a few months from the 2010 period to buy BTC for less than $ 0.10 per coin. However, the problem with buying bitcoin early is that there is less advertising and access to assets compared to today.

But even in 2015, there were plenty of opportunities to buy bitcoin for less than $ 330 a coin, so selling at the current price can make a lot of money. Bitcoin has risen several percent in value to $ 330 per coin, but a unit of assets is still cheap compared to prices above $ 50,000.

"It's not too late for DCA now." It's too late, don't talk nonsense. When it's $ 55,000, you won't give it a “midpoint”. The idea made more sense when $ btc was decided on thousands of dollars, but it is wrong.

—Big dog (@MoonOverlord) March 15, 2021

DCA represents the average rate. For more on DCA, see: Warren Buffett Praises The Average Price Of A Commodity, But Does This Apply To Bitcoin?

“It's too late to get rich in bitcoin now,” Moon Overlord said in another tweet.

On the 2021 r / Bitcoin subreddit, Reddit user u / DocumentingBitcoin posted a user post “ichi” in 2010, in which users shared their thoughts on Bitcoin. On July 25, 2010, Ichi explained, "I only have 600 bitcoins, and almost all of them were created last week." User said sadly after saying "I miss the bus."

On TradingView's BLX chart, daily July 24-26, 2010 ** The report shows Bitcoin prices before and after its initial launch in 2010 were between US $ 0.05 and US $ 0.06 per coin. .

Some players in the cryptocurrency market believe that Bitcoin will surpass its all-time high of $ 65,000, while others believe that a million dollars per BTC is impossible. The larger increase means that BTC will have less than some of the benefits of some altcoins in 2020 and 2021, but will likely increase further in the future.

For example, in 2020 the value of Yearn.finance (YFI) increased by more than 5,000%. Of course, investing or trading crypto assets that know less than BTC can be due to potential defaults, loss of assets, and volatility.

Bitcoin (BTC) lost interest in further gains on Thursday as the BTC price target fell below $ 45,000.

1 hour BTC / USD chart ** (Bitstamp). Source: TradingView

BTC price rose to $ 44,000

BTC / 24h traded at $ 44,200 in US dollars on Thursday and fell more than 4%, according to data from Cointelegraph Markets Professional and TradingView.

The pair looked for a new high in highs near US $ 47,000 the day before, but the major offensive there eventually gained and volume did not support larger forces.

Cointelegraph writer Michaël van de Poppe warned at the time that "the road has recently been weakened and could be".

In the latest YouTube update, van de Poppe assessed the potential for a more radical solution for Bitcoin.

“Right now, most people expect a break of $ 48,000,” he said, reversing his speculation on Wednesday.

"We're not going to break or rush or hit $ 55,000. Go here for as little as $ 40,000, maybe up to $ 30,000."

On the main Binance exchange, buyers support levels above US $ 42,000, while major retailers remain at US $ 47,000.

BTC / USD trading started on August 12 (Binance). Source: Material Indicators / Twitter

The Croix d'Or is still on the way

At the same time, a slight drop on Thursday was not enough to avert the fires, the event could grow on Friday's chart.

IMPORTANT: Traders are eagerly awaiting the new altcoin season as Bitcoin converts to $ 45,000 for support.

As analyst and trader Rekt Capital pointed out, the positive effects of the cross should still be felt on Friday. A 50-day moving average above the 200-day moving average is included.

“This loss of BTC is not enough to go to the next gold rush,” he added on Twitter. He added that BTC / USD is expected to remain at $ 45,200 as support for the continuation of the "harassment".