After the recent dynamic drops, which we could observe on the most popular cryptocurrencies, the last days are marked by the upward rebound. There are many indications that the current rebound is only a correction, which is what the structure of the movement towards the north speaks.
Therefore, the current upward rebound should be described by the price channel as a potential correction. If the lower limit of the channel is broken, the path to the continuation of the downward trend opens.
The target area for bears is a strong level of support located in the price region of $ 6,000.
Risk Warning: The content of this analysis is for informational purposes only and does not constitute investment advice.
