• Bitcoin falling inside correction (ii)
• Likely to fall to support level 30000,00
Bitcoin cryptocurrency continues to fall inside the short-term correction (ii) which started earlier from the key resistance level 35000,00, standing near the 50% Fibonacci correction level of the previous sharp downward wave B from the middle of June. The downward reversal from the resistance level 35000,00 is aligned with the multi-month downtrend that can be seen on the daily Bitcoin charts.
Given the appeal of dollar and the other higher yielding assets and the resultant exodus from cryptomarkest on all fronts – Bitcoin cryptocurrency can be expected to fall further toward the next round support level 30000,00 (low of the previous sharp daily Hammer from the middle of June).