Bitcoin is still struggling to decide which way to move because no side between Bulls and Bears is ready to give up. Is there any chance of Bitcoin Correction?
The Bitcoin price today is $59,045.99 with a 24-hour trading volume of $35,100,070,652. Bitcoin is down 1.84% in the last 24 hours with a live market cap of $1,114,595,905,790. It has a circulating supply of 18,876,743 BTC coins and a max. supply of 21,000,000 BTC coins.
Bitcoin Correction: Analysis
Bitcoin currently stands at the price level of May 2022 and the local support holding the price is right below EMA 50, the shaded area.
The bigger timeframes like the daily chart are still Bullish however there is correction waiting to keep the uptrend in order. The lower trend line of making higher highs can act as support at the fib 1.4 area where we’ll see the additional support of EMA 200 as well. That’s our major support level.