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21.12 - 15:17
Bitcoin, Ethereum face largest correction since 19 May; is it time to buy the dip
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ambcrypto.comBitcoin and Ethereum have dropped the ball. The market has been witnessing a decline matched by the correction intensity from 19 May, 2021. Needless to say, that the long-term bullish structure is currently fractured. In recent articles, we highlighted the possible bullish scenarios for Bitcoin but none of them panned out like expected. In this article, we will analyze the new on-chain developments and estimate if there is a buying opportunity in the market. Bitcoin and Ethereum are respectively down by 11% and 8% at press time.
Source: Glassnode
Less than 48-hours ago, Bitcoin was consolidating in a range between $55,000-$60,000. The significance of this range was illustrated by the fact that it comprises the highest BTC cluster, with over
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