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Cryptocurrency Update: Are We Entering Another Steep Correction?

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Cryptocurrency Update: Are We Entering Another Steep Correction?

Introduction

This article was posted on Thursday, 07:58, UTC.

This question probably ran through a lot of traders’ minds yesterday evening and this morning amid the decline in Bitcoin, as the 30% correction in the currency that took place two weeks ago is still a very active memory. The correction dragged altcoins lower as well, so it isn’t a surprise that a lot of investors and traders got nervous. BTC/USD 4-hour Chart Analysis As we wrote in our previous update a yesterday: BTC is at a very important point as a failed break-out attempt, and a break below the prior high could set up a quick decline towards the…

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Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

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Crytpocurrencies are having a quiet and slightly bearish session, as…