Bitcoin price reached 37,500 USD, warning that Thursday will see the next BTC price correction


Bitcoin (Bitcoin) It was close to 38,000 USD in the strong recovery on June 10, but the forecast of the imminent retracement is getting higher and higher.

BTC/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

Menu price reduction on Thursday

Data from Cointelegraph Markets Pro with Transaction view It shows that BTC/USD hit a local high of 37,500 US dollars overnight on Wednesday, and has remained at a relatively high level ever since.

Compared with the low point at the beginning of the week, the currency pair has risen by more than 20% at the high point.

However, despite the gains, few traders believe that Bitcoin will remain strong in the long term. As Cointelegraph Report, Has been asking for a break below the support level of $30,000 in recent days.

According to the popular Twitter account Crypto Tony, Thursday will mark the day when the cooldown period begins.He used to Plan out According to various other forecasts, it may fall to around US$27,000.

“So today will be the day when we get the second wave or C wave drop on Bitcoin,” he wrote in his article. Recently updated.

“Either way, I will seek to buy this retracement, but it also depends on where we stop.”

As of June 9, Crypto Tony’s BTC/USD scenario. Source: Crypto Tony/Twitter

At the same time, traders encrypt Cobra need A 20% broad correction was made to the entire cryptocurrency market value. If BTC/USD Less than 42,000 USD.

The optimistic base price is now $32,000

Others are less shameless in their predictions. Analyzing the 4-hour chart on Thursday, Crypto Ed believes that if further declines are needed, the rebound level will be close to $32,000.

“It’s not clear this morning. It’s hard to find the pieces of the puzzle. I may be completely wrong, so there is only a 4-hour chart,” he explained.

“As long as I don’t see a strong rejection, I will stick to this bullish scenario (because I like the reaction of a permanent short without buying a bargain).”

The BTC/USD scenario of Crypto Ed as of June 10. Source: Crypto Ed/Twitter

Good news from multiple sources has boosted Bitcoin’s narrative especially in recent days.El Salvador’s adoption announcement seems to have an Potential impact In the market, and on Wednesday, the $157 billion asset management company Victory Capital Join Encryption trend.