Cryptocurrency

Bitcoin

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 <p class="paragraph">After gains that have seen Bitcoin (BTC) briefly surpass the $44,000 threshold recently, investors might be looking at a potential <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> <a rel="dofollow" title="correction" href="https://thebittimes.com/tag/correction.html">correction</a> soon that can be damaging in the short term. However, a <a rel="dofollow" title="correction" href="https://thebittimes.com/tag/correction.html">correction</a> can be positive, adjusting overvalued asset <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a>s and providing buying opportunities.</p> 
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 <p class="paragraph">Technical analysts examine <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> support and resistance levels to anticipate transitioning from a reversal or consolidation to a <a rel="dofollow" title="correction" href="https://thebittimes.com/tag/correction.html">correction</a>. Technical <a rel="dofollow" title="correction" href="https://thebittimes.com/tag/correction.html">correction</a>s occur when there is excessive inflation in an asset or the overall market.&nbsp;</p> 
 <p class="paragraph">According to the analysis of the daily and the three-day charts of the Bitcoin price movement, the following BTC price correction might be coming within the next 48 hours, as per a post on X by cryptocurrency analyst Ali Martinez on December 5.</p> 
 <figure class="wp-block-image size-large">
  <img decoding="async" loading="lazy" width="1024" height="777" src="https://cdn.thebittimes.com/images/2023/12/06/3e03e346ba42bfd5f5884daec8c490d8.webp" alt="BTC price one-day and three-day charts.  Source: Ali Martinez
" class="wp-image-141544" srcset="https://cdn.thebittimes.com/images/2023/12/06/3e03e346ba42bfd5f5884daec8c490d8.webp 1024w, https://cdn.thebittimes.com/images/2023/12/06/3e03e346ba42bfd5f5884daec8c490d8.webp 300w, https://cdn.thebittimes.com/images/2023/12/06/3e03e346ba42bfd5f5884daec8c490d8.webp 768w, https://cdn.thebittimes.com/images/2023/12/06/3e03e346ba42bfd5f5884daec8c490d8.webp 1536w, https://cdn.thebittimes.com/images/2023/12/06/3e03e346ba42bfd5f5884daec8c490d8.webp 1997w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   BTC price one-day and three-day charts. Source: Ali Martinez 
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 </figure> 
 <p class="paragraph">Investors might be wondering to which level Bitcoin will drop during this retracement, and based on another analysis by Martinez on December 4, the support area for Bitcoin stands at $37,000, while the resistance zone is $47,360.</p> 
 <figure class="wp-block-image size-large">
  <img decoding="async" loading="lazy" width="1024" height="634" src="https://cdn.thebittimes.com/images/2023/12/06/47a921a0188dd58f3ec86473a71a926a.webp" alt="BTC resistance and support zone. Source: Ali Martinez
" class="wp-image-141545" srcset="https://cdn.thebittimes.com/images/2023/12/06/47a921a0188dd58f3ec86473a71a926a.webp 1024w, https://cdn.thebittimes.com/images/2023/12/06/47a921a0188dd58f3ec86473a71a926a.webp 300w, https://cdn.thebittimes.com/images/2023/12/06/47a921a0188dd58f3ec86473a71a926a.webp 768w, https://cdn.thebittimes.com/images/2023/12/06/47a921a0188dd58f3ec86473a71a926a.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   BTC resistance and support zone. Source: Ali Martinez 
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 </figure> 
 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2> 
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 <p class="paragraph">At the time of press, BTC is trading at $43,854, representing a gain in <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> of 5.37% in the previous 24 hours. This digital asset has gained 14.86% in the last 7 days and added 25.60% in the past 30 months.</p> 
 <figure class="wp-block-image size-large">
  <img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/12/06/ddb73466f20d09838e7509fc590ba0a4.webp" alt="BTC 24-hour price chart. Source: Finbold
" class="wp-image-141546" srcset="https://cdn.thebittimes.com/images/2023/12/06/ddb73466f20d09838e7509fc590ba0a4.webp 1024w, https://cdn.thebittimes.com/images/2023/12/06/ddb73466f20d09838e7509fc590ba0a4.webp 300w, https://cdn.thebittimes.com/images/2023/12/06/ddb73466f20d09838e7509fc590ba0a4.webp 768w, https://cdn.thebittimes.com/images/2023/12/06/ddb73466f20d09838e7509fc590ba0a4.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   BTC 24-hour price chart. Source: Finbold 
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 </figure> 
 <p class="paragraph">This cryptocurrency has experienced an increase of 158% in the last year, allowing it to outperform 82% of the top 100 crypto assets in this period.&nbsp;</p> 
 <p class="paragraph">Additionally, this digital asset trades above the 200-day simple moving average while having 18 green days in the last 30 days.</p> 
 <p class="paragraph">Considering everything, the future movement of Bitcoin <a rel="dofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> will depend on various factors. Protocol development, network decentralization, adoption, and macroeconomic conditions will all significantly shape its trajectory.</p> 
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/here-is-when-the-next-bitcoin-price-correction-is-coming-tbt72766.html">https://thebittimes.com/here-is-when-the-next-bitcoin-price-correction-is-coming-tbt72766.html</a></p>

Here is when the next Bitcoin price correction is coming

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