FXTM information and reviews
OctaFX information and reviews
XM information and reviews
FXCC information and reviews
FxPro information and reviews
HFM information and reviews

Bitcoin price retreats to $22600

7 February 2023

During the weekend, the price of Bitcoin continued the bearish trend starting on Thursday with the $24260 level. Ethereum’s price dropped to the $1610 level yesterday. During the weekend, the price of Bitcoin continued the bearish trend starting on Thursday with the $24260 level. The price dropped below the $23,000 support level yesterday and continues to slide today. Today’s low was at the $22650 level, and we are moving above it for now. The strengthening of the dollar affected the values of all cryptocurrencies. So there was a price correction compared to the previous days. We could look for the next support at the $22500 level because we managed to stay above it in the previous fifteen days.

A break below would mean that we would likely see a continuation of the Bitcoin price decline. Potential lower targets are $22250 and $22000 levels. We need a positive consolidation and a return to the zone above the $23500 level for a bullish option. This would bring us back to the positive side from which the further recovery of the bitcoin price could continue.

Ethereum analysis

Ethereum’s price dropped to the $1610 level yesterday. The price manages to find support at that place and recovers to the $1635 level. We could soon find ourselves at the $1650 level and form a new higher low before the next bullish impulse. If we succeed in this, the potential higher targets are $1675 and $1700. We need a negative consolidation and a drop below the $1600 level for a bearish option.

A price breakout below would add bearish pressure. We would also have the opportunity to form a lower low and start a further price pullback. Potential lower targets are $1575 and $1500 levels.


Share: Tweet this or Share on Facebook


Ripple Price Prediction | How Much Will XRP Be Worth?
Ripple Price Prediction | How Much Will XRP Be Worth?

This guide serves as a valuable resource for investors and traders seeking to uncover Ripple’s price projections in the short and long run. As an emerging technology, cryptocurrencies are poised...

24 Mar 2023

Bitcoin's bullish triangle
Bitcoin's bullish triangle

Bitcoin has gained 2.6% over the past 24 hours to $28.3K. Meanwhile, demand for other cryptocurrencies was revived as the total crypto market capitalisation rose 3.4% to $1.18 trillion...

23 Mar 2023

The crypto market has let off steam
The crypto market has let off steam

Bitcoin had a smooth climb on Wednesday, only to plunge into the abyss. The top cryptocurrency soared to $28.9K immediately after the Fed's comments but tanked almost 8% from its high of $26.6K after Yellen's remarks...

23 Mar 2023

Bitcoin bounces back above $28000
Bitcoin bounces back above $28000

Bitcoin climbed to $28567 yesterday, forming this year’s high. The price of Ethereum was in retreat until the $1720 level. Bitcoin climbed to $28567 yesterday, forming this year’s high...

22 Mar 2023

Bitcoin cools down ahead of Fed
Bitcoin cools down ahead of Fed

Bitcoin selling intensifies as it touches the $28K level. The leading cryptocurrency has lost 2.2% over the past 24 hours, but this is a minor pullback after a more than 40% gain since 10 March...

21 Mar 2023

Bitcoin in all its glory. Where's the stop?
Bitcoin in all its glory. Where's the stop?

Bitcoin jumped 24% last week to close at $28,000. Ethereum added 16.2% to $1800. Other leading altcoins in the top 10 gained between 6.6% (Polkadot) and 19.3% (BNB)...

20 Mar 2023

FXCM information and reviews
RoboForex information and reviews
MultiBank Group information and reviews
MultiBank Group
Libertex information and reviews
Vantage information and reviews
FP Markets information and reviews
FP Markets

© 2006-2023 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.