Since Friday’s 7.6% surge in the $BTC price, investors and traders were possibly disappointed to see this positive price action lose momentum over the following days. However, this is a completely normal retracement, and Bitcoin is likely to rebound soon.
A perfectly healthy correction
No asset just goes straight up. The latest price action from Bitcoin is par for the course, and a very healthy way for the king of the cryptocurrencies to eventually get back to the all-time high.
The upward surge that the $BTC price experienced on Friday was a large one, the 7.6% rise equated to a gain of nearly $4,500, which is still being absorbed. Once this process is finished, it might be expected that $BTC will continue the current upward trend.
Renewed momentum should encourage a bounce
Source: TradingView
Looking at the immediate price action for Bitcoin, it can be seen that after getting rejected from $65,000, the price has rolled over and is heading back towards the top of the
We współpracy z: https://cryptodaily.co.uk/2024/08/bitcoin-btc-rebound-incoming
