Yesterday, the cost of the first cryptocurrency at the moment rose above $ 36 thousand, but could not stay at this level and fell sharply.
Trader Ayash Jindal warned that there were risks of continuation of the correction.
The bitcoin rate may be corrected in the near future, warned NewsBTC analyst Ayash Jindal. On the afternoon of June 29, the cost of the cryptocurrency reached $ 36.6 thousand, after which it began to decline sharply.
At the moment, the quotes dropped to $ 34.6 thousand, the coin is worth $ 35 thousand.
Key support levels for bitcoin were $ 35,700, $ 35,500, as well as $ 35,200, Jindal explained. According to him, after the price of the cryptocurrency dropped below these levels, now it can start moving towards $ 34 thousand.
In order to continue to rise in price, the asset needs to gain a foothold above the trend line at around $ 35.7 thousand, the analyst said. He added that in this case, Bitcoin will again be able to test the zone of $ 36 thousand, after which the resistance level will be $ 36.5 thousand.
The next key mark is $ 36.7 thousand, after which the target for the bulls will be $ 37 thousand, Jindal said.
Further, growth will slow down at levels of $ 38 thousand and $ 40 thousand, the expert concluded.