From a technical point of view, there is a short-term price potential of up to 35,000 dollars.
(Photo: Reuters)
Dusseldorf Some calm has returned to the crypto market. Bitcoin, the oldest and most important cryptocurrency, stabilized at around $30,500 for the time being on Friday. Within a week, the entire crypto market crashed, with bitcoin falling from $36,000 to $26,000. The record high of almost $69,000 from last November is a long way off.
Has the sale stopped now? “There is a possibility of a bottoming out,” says Martin Utschneider, head of technical analysis at private bank Donner und Reuschel. Then the market would have bottomed out.
As a short-term target on the upside, the chart technician sees $35,000, last Saturday’s close as the downtrend accelerated. So in a bullish scenario, a recovery is possible up to here before the next chart resistance at $36,000.
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