The overwhelming market correction last week took its toll on the mood of altcoins holders. BTC was as well subject to correction, although not so dramatic.
What’s happening:
The $2,300 support zone has formed and been persistent hitherto.
BTC currently outperforms the market, which is predictable as investors massively rush to BTC from altcoins
If we neglect general market moods, from the fundamental viewpoint, SegWit and related rumors currently push the price. Seemingly, investors are anticipating news that is why the price is trading in the range between $2,250 and $2,544 from the outset of July
Ideas to follow:
The $2,300 support zone is strong: it was tested four times and four times it exhibited its power. The probability to hit $2,200 is much lower than $2,544.
In case negative news comes out and the price starts to fall, it is likely to decrease abruptly to $2,000 or even $1,900. This is feasible, as the price might hit marginal positions and stop-loss orders will be executed.
Still, the probability of this scenario remains low.
Currently, the following targets are set for BTC: $2,544, $2,724, $2,880