Analyst: Bitcoin Approaches “Critical Intersection Of Macro Support”
Bitcoin fast approaching towards a critical intersection of macro support, according to a crypto analyst. Critical Intersection Of Macro Support As pointed out by a Bitcoin analyst on Twitter, the cryptocurrency is coming closer to an intersection with a macro support curve. BTC macro support curve | Source: TheCryptoCactus The above chart showcases how Bitcoin […]
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BTC price fell below $38,000 as tech stocks sold off and traders cautiously watched to see if Bitcoin can hold its “macro level support” zone. The cryptocurrency market and wider global financial markets fell under pressure on April 26 after the hype surrounding Elon Musk buying Twitter began to fade, and concerns about the state of the global economy took the forefront again.Tech-related stocks were some of the hardest-hit assets on Tuesday and this pullback was followed by sharp declines in crypto prices as risk assets become persona non grata in these turbulent markets. Data from....
Bitcoin’s price action has been rather lackluster as of late, with sellers forcing the crypto back below $19,000 as it struggles to gain any clear momentum in either direction. This price action has been surprising considering the macro strength incurred due to the recent multi-week uptrend, but it does seem as though serious upside could […]
Bitcoin’s price action as of late has been driven by a combination of recent news developments, jitters within the macro-economic environment, as well as technical weakness. That being said, these factors have not been enough to push the benchmark cryptocurrency below any crucial support levels, as it is still trading within the macro trading range […]