Bitcoin bulls fail to hold $21K, but pro traders refuse to flip bearish
BTC bears have successfully suppressed Bitcoin price below $25,000 for 147 daily closes, but derivatives data shows no desperation from pro traders 147 days have passed since Bitcoin (BTC) closed above $25,000, and the result is that investors are less sure that the $20,000 support will hold. Backing these concerns are persistent global financial and macroeconomic tensions, which escalated on Nov. 7 after European Union officials expressed concerns over the $369 billion U.S. Inflation Reduction Act.The extended tax, health and climate bill was approved in August and it also includes....
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Ethereum and the entire crypto market has faced some weakness throughout the past couple of days Although both BTC and ETH are trading well above their recent lows, it is important to note that bears are in the process of reversing yesterday evening’s gains This downtrend could prove to be bearish for ETH, as the crypto has been unable to flip a key resistance level into support This comes as it ventures into what one […]
Bitcoin has seen some mixed price action as of late, with bulls struggling to defend the cryptocurrency against a break below $40,000 as bears try to reverse its momentum The crypto’s ability to hold above this level is promising, but it remains unclear as to how long it will hold If bulls can flip this previous resistance level into support, it could prove to be a strong base for the crypto to grow upon in […]
Traders identify $40,000 as the pivotal level Bitcoin price needs to trade above in order to avoid a revisit of July’s swing low. Optimism from bulls is the leading sentiment of the day after Bitcoin (BTC) price made its way back toward the psychologically important $40,000 level. In addition to the reversal from this week's local low at $37,500, Gary Gensler, the chair of the United States Securities and Exchange Commission issued positive comments about the crypto industry and reaffirmed the goal of ironing out fraud in the ecosystem. BTC/USDT 4-hour chart. Source: TradingViewNow that....
Ethereum’s price has been trapped below one crucial level throughout the past few days While it has been flashing signs of strength, buyers have not been able to shatter the selling pressure that exists at $450 This is a key level that ETH bulls have been struggling to break above throughout the past few days and weeks Until this level is firmly surmounted, the crypto may remain in a somewhat precarious position Buyers and sellers […]
Bulls are keen to buy each Bitcoin price dip but is this enough to avoid repeat sell-offs at $19,500? For the second day in a row, Bitcoin bulls have attacked the $19,500 level in an attempt to flip the crucial level from resistance to support. Each attempt to overcome the resistance is has been rejected near $19,550 but Bitcoin’s swift recovery from the Dec. 14 drop to $19,050 shows that investors remain interested in buying every significant dip. Crypto market daily price chart. Source: Coin360At the moment, the general consensus among traders is that flipping $19,500 to support will....