Bitcoin is trading this week in the range of $ 54,000 to $ 56,000. The coin was able to rebound after a collapse to a three-week low, but failed to resume expansion.
According to forecasts of the vice-president of Fundstrat Lior Shimron, the consolidation may last for several weeks.
The analyst told CNBC that the first alarm signal for the market was the arrival of a large deposit on the Binance exchange.
Then, on Sunday, almost $ 5 billion worth of bitcoin positions were liquidated in the market.Together with altcoins, the liquidation amounted to about $ 9.5 billion.
At the same time, Shimron recalled that according to the results of the notorious “Black Thursday” in March last year, two times less positions were liquidated on the exchanges, although the BTC rate fell by 50% in just a day.
The expert said:
The fact that this sale [в минувшие выходные] led to a fall of only 15%, and the price quickly recovered, speaks of how much the market has grown and matured over the past year.
According to the vice president of Fundstrat, bitcoin should have stayed at $ 60,000, but increased pressure over the weekend triggered a drop to almost $ 50,000.
Over the next two weeks, we will consolidate and then restore our positions around $ 60,000, the expert predicts. Note that the Fundstrat team expects Bitcoin to be close to $ 100,000 by the end of this year.
Fairlead Securities strategist Katie Stockton also said on CNBC that if trading again goes into the red zone, then Bitcoin is threatened with a fall to $ 42,000, this mark will become another zone of strong support for BTC.
If the positive prevails, and the crypto market starts to increase again, then the next goal of BTC is to reach $ 69,000, Stockton said.
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