Here’s why bulls aren’t buying the Bitcoin price dip to $50,000
Data shows pro traders are not buying the current Bitcoin dip as tomorrow’s $1.55 billion options expiry looms. Bitcoin (BTC) has been bouncing at the $51,000 support for the past 44 days. Typically, this would be interpreted as a positive occurrence, especially considering that the $50,000 level represents a 75% advance in 2021. However, cryptocurrency investors are typically short-term-focused and always overly optimistic. Thus, the current narrative for Bitcoin is slowly turning bearish but aside from sentiment, what story are the fundamentals telling?However, there is a possibility....
Bitcoin has flashed some signs of tempered strength throughout the past few days, with bulls ardently defending against a sustained drop below $18,000 The buying pressure below this level was tempered and only sparked a slow climb higher Until the crypto can reach a level that kicks off a massive buying spree that creates another “V-shaped recover,” there’s a possibility that it will see further weakness One trader is now noting that a move lower […]
Bitcoin has seen some mixed price action as of late, with bulls attempting to push it higher yesterday before it saw a strong rejection that sent it tumbling lower The crypto is still trading firmly within the trading range that it has been caught within throughout the past several weeks, and not much has changed from a structural perspective Despite the apparent intensity of this selloff, one analyst is noting that he isn’t too concerned […]
Bitcoin has seen some immense volatility over the past couple of days, with bulls and bears ardently battling for control over the lower-$30,000 region The key support here has been tested on a few occasions, but bulls have been able to guard against any intense selloff If BTC can continue building a strong base of support down below its current price, there’s a possibility that it could be poised to see immense strength in the […]
Here’s what we are focusing on for this evening's session in the bitcoin price. So it’s time for the second of our twice daily bitcoin price analyses, and things aren’t going to be all that different from this morning. Action throughout the day has been relatively flat, although we did get a bit of a breakout, and managed to get into a long entry earlier in the day. This said, we were quickly stopped out, and we enter this evening’s session net flat in the markets. So, with this said, as we head into this evening’s session in the bitcoin price market, what are we looking at from an entry....
Bitcoin price failed to continue higher towards $60,000 against the US Dollar. BTC declined sharply and tested the $54,500 support zone, where the bulls took a stand. Bitcoin failed to extend gains and it formed a short-term top near the $59,000 level. The price is now trading well below the $57,000 level and the 100 […]