Bitcoin needs to reclaim these two levels to avoid another dip to $28K
Bitcoin price action will stay stuck in the lower half of its macro range unless two key moving averages can flip to support. Bitcoin (BTC) may have rebounded strongly in recent days, but its journey to new highs is only just beginning — and far from guaranteed, a new analysis suggests.Updating a Twitter debate on Feb. 9, popular trader and analyst Rekt Capital identified two key targets BTC/USD must reclaim as support for bulls.Bitcoin key macro resistance levels now in placeDespite being up 13% in a week on Wednesday, Bitcoin is still far from November’s peak of $69,000.For Rekt Capital,....
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The bounce back above $48,000 is not a definitive sign that a correction is over, analysts warn. Bitcoin (BTC) quickly regained lost ground on Aug. 25 after a brief dip towards $47,000 failed to keep bulls down. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewRebound or bull trap?Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it returned to higher levels almost as quickly as it lost them earlier in the day.At the time of writing, the pair traded at near $48,700, having gained $1,500 in a matter of hours.Analysis had hinted at a rebound even as lower lows....
$20,000 or $32,000? Both feature in the outlook for Bitcoin price action going forward. Bitcoin (BTC) needs to hold current levels and work to reclaim higher ones to avoid a crash in the $20,000 range, the latest analysis warns. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewIs $20,000 incoming?Data from Cointelegraph Markets Pro and TradingView showed BTC/USD still failing to cement $30,000 as support on the May 16 Wall Street open.The pair had seen fresh losses after the weekly close at $31,300 — this, in itself, disappointing market participants after sealing a record....
Traders identify key support and resistance levels that Ethereum must hold as ETH price trades at levels not seen since July 2021. The crypto market experienced another day of pain on May 12 as the fallout from the Terra's LUNA and UST failure continues to ripple across the ecosystem.While the coverage for UST and its impact on Bitcoin (BTC) have been extensively covered over the past few days, the pullback has also had a significant impact on the price of Ether (ETH) as traders hastily exited the market. Data from Cointelegraph Markets Pro and TradingView shows that the past seven days of....
Not tackling even lower levels "seems wrong," one analyst says, while another popular trader demands a $40,000 reclaim for Bitcoin price to flip "full bull." Bitcoin (BTC) cracked $37,000 at the Jan. 28 Wall Street open as traders watched and waited for a resistance retest.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC evades a major resistance testData from Cointelegraph Markets Pro and TradingView showed BTC/USD returning to form after dipping to $36,175 on Bitstamp earlier in the day.As part of the range-bound behavior, hopes were held high that momentum would continue....