Over the past weekend, the cryptocurrency market managed to update the annual maximums and rolled back to the previous price levels. On Friday, the market capitalization reached $ 144 billion, but failed to gain a foothold on the levels reached. Now the capitalization is $ 130 billion, which is 3.7% lower than Friday.
Bitcoin on Saturday managed to break through the resistance level of $ 4,000. However, the breakthrough turned out to be false and it did not consolidate above the level. The price reached the mark of 4200, but the sales that followed didn’t return the price to their previous values in less than an hour.
In such a situation, only automatic stops could protect the capital, at least at the break-even point, since the decline was quite sharp and unexpected for most market participants.
So far, the situation remains ambiguous and it is impossible to determine the mood in the market.
One of the possible scenarios, we consider another price attempt to come close to the 4000 level. However, after such a pullback, there is a small probability that in the coming days the price will be able to consolidate above this level. Most likely, the price will break off the level and remain within the corridor between the levels of 3,650 4,000 dollars.